Monday NW Seattle Real Estate Market Update | April 19th, 2021
This week we begin by talking about Housing Inventory. More homes are coming on the market than are selling at the moment which means housing inventory is rising! This is great news for Buyers because they will have more options to choose from!
While it continues to be a hot Seller’s Market in Seattle, Sellers still need to prep their home like a pro! To see a few simple tips on getting you home ready to sell, watch our video “Where to Start When Selling Your Home”.
We hope you enjoy the upcoming sunny week!
-Steve & Sandra
𝐴𝑛𝑑 𝑎𝑠 𝑎𝑙𝑤𝑎𝑦𝑠, 𝑖𝑓 𝑦𝑜𝑢 ℎ𝑎𝑣𝑒 𝑎𝑛𝑦 𝑎𝑑𝑑𝑖𝑡𝑖𝑜𝑛𝑎𝑙 𝑟𝑒𝑎𝑙 𝑒𝑠𝑡𝑎𝑡𝑒 𝑞𝑢𝑒𝑠𝑡𝑖𝑜𝑛𝑠, 𝑓𝑒𝑒𝑙 𝑓𝑟𝑒𝑒 𝑡𝑜 𝑐𝑎𝑙𝑙/𝑡𝑒𝑥𝑡 𝑢𝑠 𝑎𝑛𝑦 𝑡𝑖𝑚𝑒! 𝑊𝑒’𝑟𝑒 𝑎𝑙𝑤𝑎𝑦𝑠 ℎ𝑒𝑟𝑒 𝑡𝑜 ℎ𝑒𝑙𝑝!
Steve 📲 (c) 206-769-9577 📧firstname.lastname@example.org
Sandra 📲 (c) 206-271-7100 📧email@example.com
It is Monday and week 58 of our Monday market update. Inventory levels in Northwest Seattle continue to slowly increase. We had 80 new listings last week, and we’re on track to easily surpass March’s new listings of 317.
Right, but what was really interesting and of course we will continue to track it, is that, for the fifth week in a row, homes going under contract have not kept up with new inventory coming on the market, which is why inventory levels are rising. So if you think of all of the inventory as like a big reservoir, we had 80 new listings that got dumped into it and 57 got removed, which is 70%. The previous week we had 88% that got removed and then the week prior to that, we had 93% that got removed. So you can see that homes getting absorbed out of the reservoir are going down in relationship to new inventory coming on the market.
The reservoir is rising, which is our spring market in action. Inventory levels always rise in April, May, and June. This, of course, is good news for buyers, as more inventory comes on the market. Another little ray of sunshine for buyers is that 30-year conforming mortgage rates have dropped a bit to 3.125% which is the lowest since the end of February. That is good news for buyers.
And sellers, it’s good news for you. It is still a super hot market, but don’t get complacent. You still need to prep your home like a pro. So check out our video for tips on how to get your home ready for the market. We go over four simple tips that covers both the interior and the exterior of your home. Or, you could just contact us now! Sandra, you did a walk through with a seller who will be listing early next summer. She wanted to get a jump start on what she should do to prepare her home so that she wasn’t scrambling at the last minute.
Right, so if you’re thinking of selling, definitely starting early is the best way that you can reduce your stress. And if you liked this video, give it a Like, subscribe to our channel, and don’t forget to hit that bell to get notified when we post new videos. Have an amazing week! It is going to be simply stunning in sunny, I almost said sunny California! In sunny Seattle!