Monday NW Seattle Real Estate Market Update | January 11th, 2021

Monday NW Seattle Real Estate Market Update | January 11th, 2021

Last week was our first full week of 2021. We start this update off by checking in on interest rates (still phenomenal). And we continue to discuss the usual NW Seattle area numbers.

​Have we mentioned it’s a HOT Seller’s Market?

We are also excited to talk about our newest downsizing workshop!
Housing Options When Downsizing | Thursday, Jan 28th @5:30PM on Zoom.
Click here to register.

If you or anyone you know is thinking about Downsizing in the future, this free workshop can be the first step in thinking about what your options are. We hope to see you there!

Thinking of Selling your home in the future? There is also still time to sign up for our
Virtual Home Selling Seminar | Thursday, Jan 21st @5:30PM
Click here to register.

Or if you prefer, you can contact Sandra directly in order to register for either online seminar, or both!

Cheers! – Steve & Sandra

Steve 📲 (c) 206-769-9577 📧stevehill@windermere.com

Sandra 📲 (c) 206-271-7100 📧sbrenner@windermere.com

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!

Video Transcript:

Hey everybody, welcome to week 44 of our Monday Market Update. And this is the first full week in January. I think we’re off to a pretty good start. As you know, we will be watching the year week by week to see how things progress. That’s how we spot trends. But interest rates remain phenomenal. 30 year fixed, 2.75%, 15 year fixed, 2.125%, crazy low money. And jumbo has ticked up just a tad at 3%. And then, so Steve, what has happened in Northwest Seattle real estate?

So last week in North Seattle, there were a total of 110 homes for sale. There were 32 new homes, 78% of those were vacant. 18 had a review date, which was 56% of homes had a review date. Pending sales, nine homes went pending for an average market time of 23 days. And nine homes went pending inspection, for an average market time of 49 days. And 33 homes closed in Northwest Seattle with an average market time of 29 days. And then I think the average price-per-square-foot dropped just a little bit to $480 a square foot. So overall, not bad.

No, yeah, and it will be interesting to watch it week by week. So this first full week in January, homes going under contract did not keep up with homes coming on the market. But that’s kind of to be expected. Buyers are just starting to come back into the marketplace. So that should increase as the year ticks on.

But also, we have a super cool seminar coming up at the end of January. It is Thursday, the 28th at 5:30 p.m. And it is Housing Options When Downsizing. I think that title pretty much covers it. We’re gonna talk about… I think it was a pretty descriptive title. We are going to cover your housing options when downsizing.

So we’ll talk about 55 and over communities, and tell you about those communities and the pros and cons. I’ll talk about condominiums, whether that’s the right option for you. And of course, if you wanna stay in your own neighborhood, what are the options for you? So anyhow, it should be a lot of fun, it’s very interactive. So definitely bring your questions. And if you’re interested, just send me an email (sbrenner@windermere.com), and we will get you on the list and get you that Zoom link. I think that’s it.

Have a great week, everybody