At the end of March, we officially entered our 7th year of our Monday Market Update. The market has certainly gone through some changes since that very first edition, as has our format and what we track on a weekly basis. Of course, the reason we started tracking stats weekly back in March 2020 was because we were at the early stages of the pandemic and no one knew what to expect. It’s nice to be well on the other side of that!
Currently we’re dealing with other global issues that affect our local markets, however Buyers have remained resilient. Interest rates, which had been steadily rising since the first bombs fell on Iran, actually came down a bit last week.
Buyers have been active in the market throughout March. In NW Seattle, the past two weeks have been the highest for homes going under contract. Homes going under contract in SW Snohomish County are down by 8.2% over the past two weeks, but prior to that, the activity had been relatively unchanged for the previous 4 weeks.
New listing were down in both NW Seattle and SW Snohomish County for the past two weeks. We assume some of this is due to the Easter holiday and most likely the next few weeks will show an uptick in new listings.
We hope everyone is enjoying the gorgeous sunshine!
If you’ve been considering selling but are unsure how broader events might affect your home’s value, now’s a great time to get clarity. Contact us for a personalized market analysis and expert guidance on timing your move—so you can make confident decisions in any market.
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 HILL
Broker | REALTOR®
CELL 206-769-9577
SANDRA BRENNER
Managing Broker | REALTOR® | MCNE | SRS | CRS®
CELL 206-271-7100
WINDERMERE REAL ESTATE / NORTHWEST
311 N 85th St
Seattle, WA 98103
brennerhill.com
Equal Housing Opportunity