Monday NW Seattle Real Estate Market Update 3.23.20

Monday NW Seattle Real Estate Market Update

March 23rd, 2020

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. We are always happy to help.

Cheers!

-Steve & Sandra

Steve 206-769-9577 stevehill@windermere.com
Sandra 206-271-7100 sbrenner@windermere.com

We are in week two of our Monday update about what is happening in Seattle real estate and specifically Northwest Seattle. So, things are still moving.

It is a seller’s market. I cannot believe it, but it is ultimately a seller’s market right now in Seattle.

No more open houses. The MLS actually took that field away from us to save us from ourselves.

We have a great alternative, and this is what we’re doing with a lot of our new listing is, that is, we’re using something called Matterport, which is a virtual tour, so with a lot of our new listings on bigger homes, we have a virtual tour of the house so that people can go through it that way, and again, we can still show homes. You know, people can go in just by themselves, so that’s, that’s not a issue to see the house. It’s just that we’re not, we’re not, we’re not gathering in big groups, and we have alternatives to see homes.

Northwest Seattle (from the Ship Canal Bridge up to the city line, which is 145th, from Puget Pat Sound to I-5.)

In the last seven days, there were 128 homes for, single family homes for sale in Seattle.

There were 44 new listings, which is down a little bit, but 40 homes went pending, and 11 went pending inspection, and 31 closed!

51 homes went under contract, and only 44 came on the market.

We did look at the Greater Seattle area and King County: 76% actually sold.

The market’s still doing really, really well, but sellers and buyers are both really nervous.

Homes that went under contract last week, so after kind of all of this really hit the fan with, restaurants closing and everything, homes that went under contract last week, the buyers were aware of what was happening in the market and that most likely, market conditions were still gonna come down. The stock market was trending down, so buyers were super-confident about their current situation, their own personal situation.

We have been hearing stories about transactions failing at the last minute, and those are buyers that went under contract, like, two to four weeks ago, really before everything kinda fell down.

So it’s easy to see why some of those homes will fall out of contract, but again, so moving forward from last week and then forward, contracts going under contract, or homes going under contract, those have a really great chance of closing.

Lastly, we also represent Buyers. Most people think that we just represent Sellers, but we do represent buyers, so if you or somebody you know is interested in a house but do not want to trek out, we love to do FaceTime. We love to go look at houses, so get a hold of us if you want a virtual tour of a house. We are happy to go out and do whatever you need us to do to help you find a new home.

We are Steve and Sandra with Brenner-Hill Team at Windermere, and we are always, always here for you. Elevated Service, Elevated Results.

Monday NW Seattle Real Estate Market Update 3.23.20
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