In the last two weeks nearly 18% fewer homes went under contract in NW Seattle than in the previous two-week period. While homes in SW Snohomish County enjoyed almost 12% increase during the same period. Sold prices in both markets also came down in the past two weeks.
We’ve talked about this before – we are seeing fewer new listings with review dates. This past week in NW Seattle, of the homes that had review dates, only 36% received accepted offers. This is the lowest it has been since we started tracking this data point nearly 3 months ago. While the market does seem slower than normal, comparing the same first three weeks in August this year versus last year, in NW Seattle we are up for the number of homes sold and homes going pending. However, comparing this period to last month, we are down for the number of homes sold and homes going pending. SW Snohomish is similar with the exception that the number of homes going pending is down slightly compared to last year.
Interest rates have remained stable over the past several weeks, with everyone expecting rates to come down in September. We aren’t expecting a large drop, but movement down is welcome news for both Buyers and Sellers.
We hope everyone has a lovely Labor Day Weekend! As always with holiday weekends the market tends to be slower during this time.
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
Equal Housing Opportunity