There are opportunities for both Sellers and Buyers this week in the NW Seattle real estate market.
Typically, inventory levels keep going up in the summer and the number of homes under contract goes down. The bigger the gap, the slower the market. However, this year both are trending down.
Sandra presents a chart to explain the latest numbers, trends and what it all means.
Steve recommends that Sellers list their homes in August if they are market ready. Sandra reviews the buying opportunities out there.
New listings were down about again last week β inventory levels are low with just 165 homes ποΈ currently available in Northwest Seattle. 67% of those have been on the market for 10 days or more. The sold price per square foot has been holding steady between $540 and $545 per sq/ft. This offers stability for both Buyers and Sellers.
βIf you’ve been thinking about selling your Seattle home, click to find out what your home is worth in our fast-moving market! π‘ Visit https://www.brennerhill.com/go/home-value/ We will email you a free Market Analysis Report for your home.
Itβs going to be a scorcher this week so stay cool. We hope you have a great week!
-Steve & Sandra
π΄ππ ππ πππ€ππ¦π , ππ π¦ππ’ βππ£π πππ¦ πππππ‘πππππ ππππ ππ π‘ππ‘π ππ’ππ π‘ππππ , ππππ ππππ π‘π ππππ/π‘ππ₯π‘ π’π πππ¦ π‘πππ! ππ’ππ πππ€ππ¦π βπππ π‘π βπππ!
Steve π² (c) 206-769-9577 π§stevehill@windermere.com
Sandra π² (c) 206-271-7100 π§sbrenner@windermere.com
Video Transcript:
Steve:
In a normal year we always encourage Sellers to not list their homes in August, because typically this is the slowest month of the year for real estate. We call it the summer doldrums. But the last two summers have definitely not been normal! Welcome to week 74 of our Monday Market Update.
Sandra:
Typically inventory levels keep going up in the summer, and the number of homes going under contract goes down. The bigger that gap, the slower the market. Whatβs been interesting this year is that both are trending down. Check out this graph, the blue line represents new listings and the red line is for Pending listings or homes under contract. In July both trended down, and if you look at last summer, new listings trended up and homes going under contract trended down. This graph is a quick easy visual to gauge the market β the bigger the gap with the blue line above the slower the market, the smaller the gap, the hotter the market, and when the blue line falls below the red line, itβs a super hot Sellerβs Market.
Steve: So this year Sellers β go ahead and be bold β list your homes in August if they are market ready!
Sandra: Buyers, we keep talking about the opportunities out there for you. Currently in NW Seattle there are 165 homes available for sale, which is down a bit from last week, but 67% of these have been on for 10 days or more. What was also interesting in looking at the charts from Trendgraphics, the sold price per sq/ft in NW Seattle has been relatively unchanged for the past three months and has ranged from $540 to $545 per sq/ft. This stability is good for both Buyers and Sellers.
Steve: Thanks for watching! Donβt forget to like this video and subscribe to our channel. Have a great week β stay cool, itβs supposed to be another scorcher at the end of the week!
