Monday NW Seattle Real Estate Market Update | December 21st, 2020

Monday NW Seattle Real Estate Market Update | December 21st, 2020

Happy Holidays!

Happy Winter Solstice!

Happy Birthday to Steve! (Dec 24th)

Happy End of 2020!

This week we discuss the NW Seattle area housing numbers. We have a pretty low level of inventory right now, which is typical for the holiday season. We also discuss some differences between the condo/townhouse market and the single family home market.

​If you are ever curious what your home is worth in any given market, we always offer free market analysis reports for your home with no obligation. We think it’s important to always know the value of your assets.

Visit http://bit.ly/38qh6z1 to get your value!

We hope you have a wonderful holiday week whatever that looks like for you and your family this year!

Cheers! – Steve & Sandra

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. 

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

Monday NW Seattle Real Estate Market Update | December 21st, 2020

Video Transcript:

Hey, everybody welcome to week 41 of our Monday Market update and it is also Winter Solstice. So happy Monday, the 21st this is the longest day of the year and moving forward each day will just get longer and longer and brighter and brighter.

And we’ll be happier and happier.

Yes and we’re all looking forward to 2021, right?

Nothing worse than getting up dark and going to bed dark.

Yeah I understand, yes. I don’t think it, we got daylight until what? Like about close to 8:00 AM this morning, but it is what it is. You know, we live in the beautiful Pacific Northwest. So we take the good with the bad but interest rates are good. So interest rates for 30 year conforming actually ticked down a little bit. They are at 2.625 and Jumbo has remained the same at 2.875. So super cheap money. If you haven’t refi’ed, might want to think about that. If you’re thinking about purchasing you’ve got a lot of purchasing power right now people but what has been happening in Northwest for real estate? Not, not a whole heck of a lot.

So inventory is down, but that’s to be expected, right? It’s the holiday time. So this last week in Northwest Seattle there were only 122 homes for sale, and, you know, that’s significantly less than half we have a lot of homes for sale, new homes, 19 homes for sale, 79% were vacant and only 42% had review dates. So again, people are not waiting to look at offers like they were a month or two ago, pending sales, 18 homes for sale, average market time of 12 days. Pending inspection, 15 homes went pending inspection with an average market time of 40 days, and then closed sales, 37 homes closed with an average market time of 20 days and average price per square foot is hovering around $480 a square foot. So that is what is happening in Northwest Seattle.

So I noticed that most of the town homes that came on did not have review dates, but the single family homes like the vast majority of them did have review dates. So I think each of our markets is just very micro, right? I mean the condo market is way different than the single family home market, townhouse market is way different than the single family home market. So I think that this just goes to show that brokers are feeling something a little bit different in the townhouse market versus the single family home market. But, so speaking of markets, if you are interested in what your home might be worth right now definitely check out the link below. We are happy to get you a market analysis of your home. I think people should always know what their assets are worth, so.

I believe you. I agree

I believe, I believe.

We know what our homes are worth, right?

We do, yes. But anyhow, it is a holiday week. Have an awesome, awesome holiday. However that looks for you this year, definitely stay safe. We will be with you next Monday.

And I’ll come back a year older.

Oh, that’s right. It’s Steve’s birthday on Thursday, happy birthday Steve.

Thank you, have a great one, everybody.

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