Monday NW Seattle Real Estate Market Update | November 2nd, 2020
Happy November! Just one day until the election!
As always we discuss the current interest rates and the NW Seattle area housing numbers.
Curious what’s involved in the Brenner|Hill listing process?
We’ve created yet another helpful page that breaks down each step of our process so that you’ll know what to expect when listing with us. If you or someone you know is thinking about selling, check out our page and see how our process will save you time, money and stress!
Visit https://www.brennerhill.com/clp/ to check it out!
We understand that it is a confusing time right now. Each Monday, we will be sending out an update based on our experience over the past week to give you the NW Seattle Real Estate Market’s “Temperature”. We are getting real time updates from our Lender each week as well. We want to make sure that you are as informed as we are. Please don’t hesitate to give us a call or shoot us an email if at any point you have additional questions or questions that relate to your specific situation.
Cheers! – Steve & Sandra
Hey everybody, welcome to week 34 of our Monday market update.
The day before election day, so go vote.
I’m sure most everybody has already voted, King County turnout has just been like through the roof. So, yay us. I’ve noticed that inventory levels came down a little bit, which was not unexpected. I think right around an election time, people tend to kind of hold back and wait and see what’s going to happen with the election before putting their homes on the market. So actually, since we’re talking about homes on the market, Steve, why don’t you just go ahead and jump into what happened last week?
So last week, in Northwest Seattle, there were a total of 225 Homes for sale.
So that’s not a not a huge amount compared to what we’ve seen recently.
And then new homes, 51 homes came on the market with a 69% vacancy rate.
44 homes went pending sale with an average market time of 11 days,
homes that went pending inspection, there were 13 with an average market time of two weeks,
and then closed homes, 63 homes closed in Northwest Seattle with an average market time with 19 days.
And the average price per square foot of a home was $467.
Yeah, so it’s been 467 for the last couple of weeks, which six weeks ago, the price per square foot was like kind of right around the high fours or the low five. So that’s kind of interesting that it’s come down a little bit. But if you go back like five weeks, which is when those homes would have gone under contract, there definitely was like a surge in inventory, and fewer homes did go on the market. So that totally makes sense that the price per square foot would actually drop a little bit. Interest rates remain phenomenal, 2.75 for 30 year fixed, 15 year fixed 2.25 and VA loans, 30 year VA loans 2.25. I mean, just crazy low money. And of course, Jumbo rates are 3%. And so those rates have remained pretty steady for the last several weeks. And a lot of times we talk about our listing process, and I’m sure people out there might wonder, like what is involved with our listing process. So we have an amazing web page that you should check out.
It’s super amazing. It’s called the Brenner Hill Certified Listing Program. And what we want to do is, we want to help people sell their home with confidence. We know home selling can be very, very stressful. And our goal is to make your listing process, your sale process the least stressful as possible. So we have a program that we put together called the Brennan Hill Certified Listing Program.
We do a pre-inspection, a seven point pre-inspection on a house. We use professional photography, including drone and Matterport 3D photography, we do professional home staging, and we have the best marketing world class marketing that anybody offers. So take a look at the link down below. If you’re thinking about selling, take a look and give us a call. We’d be happy to meet with you. Go over what your home might be worth and put together a program to get your home sold.
Thanks, everybody. Have an awesome week.
𝐴𝑛𝑑 𝑎𝑠 𝑎𝑙𝑤𝑎𝑦𝑠, 𝑖𝑓 𝑦𝑜𝑢 ℎ𝑎𝑣𝑒 𝑎𝑛𝑦 𝑎𝑑𝑑𝑖𝑡𝑖𝑜𝑛𝑎𝑙 𝑟𝑒𝑎𝑙 𝑒𝑠𝑡𝑎𝑡𝑒 𝘰𝘳 𝘥𝘰𝘸𝘯𝘴𝘪𝘻𝘪𝘯𝘨 𝑞𝑢𝑒𝑠𝑡𝑖𝑜𝑛𝑠, 𝑓𝑒𝑒𝑙 𝑓𝑟𝑒𝑒 𝑡𝑜 𝑐𝑎𝑙𝑙/𝑡𝑒𝑥𝑡 𝑢𝑠 𝑎𝑛𝑦 𝑡𝑖𝑚𝑒! 𝑊𝑒’𝑟𝑒 𝑎𝑙𝑤𝑎𝑦𝑠 ℎ𝑒𝑟𝑒 𝑡𝑜 ℎ𝑒𝑙𝑝!
Steve 📲 (c) 206-769-9577 📧stevehill@windermere.com
Sandra 📲 (c) 206-271-7100 📧sbrenner@windermere.com