We are pleasantly surprised to see that in NW Seattle homes going under contract for the past two weeks were up by nearly 14%. This is primarily due to the previous week’s activity. This week’s under contract figure was down by over 21% from the previous week. 

SW Snohomish was similar with the previous week being significantly higher than this past week. However, the combined total is still down by 18% over the previous two weeks.

Sold prices have been coming down since the Spring. In NW Seattle from mid-January to mid-June the price per sq/ft had been mostly above $600 sq/ft. From mid-June to present they have been under $600 sq/ft. SW Snohomish prices have been bouncing between upper $400s to lower $500s all year. 

Interest rates ticked down this past week in response to the weaker than expected July jobs report and more importantly the downward revision of both May and June’s report.  There is still talk of the Fed cutting rates in September. The weaker job report makes the cut more likely than it was prior to the report.

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
MAIN  (206) 527-5250
brennerhill.com

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