As expected after the Thanksgiving holiday, new listings were up in both NW Seattle and SW Snohomish County. At this point there will probably be just a trickle of new listings coming on the market. Sellers will most likely wait until after the New Year to come on the market.
Homes going under contract were up over the past two weeks in NW Seattle by 16% and up 8% in SW Snohomish County. We expect Buyer activity to also taper off for the rest of the year, but to remain active.
While the Fed reduced the Fed Funds rate by 25 basis points last week, mortgage rates increased slightly. The increase in mortgage rates is due to the continuing concerns of inflation.
This is our last update of the year. We will still be tracking the stats weekly, but our next update will be in the New Year. We hope everyone has a safe and lovely holiday season!
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