As expected, there was very little activity this past week with the long holiday weekend. It is nice to see inventory levels coming down in both NW Seattle and SW Snohomish County. The lack of new inventory is good news for Sellers whose listings have been on the market for a while. Older inventory has been getting removed from the market. Some Sellers have chosen to take their homes off the market, presumably to relist after the first of the year. However, a lot of the older inventory is going under contract. Buyer activity, while down, is still pretty strong, especially compared with the lack of new listings.
Buyers this past week were able to take advantage of lower rates. We’ve had a nice decrease in mortgage interest rates in just the past week and are down by ½ percentage from two weeks ago. The next Fed meeting is in mid-December. The general consensus among economist is that the Fed will do another modest rate cut of 25 basis points.
We hope the holiday season is off to a good start for everyone! Just a quick reminder there are still time slots open for photos with Santa this Saturday. As always, I will be there as Santa’s helper and have a new sparkly dress for the occasion!
Happy Holidays!
— Sandra and Steve
🎄
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
