Buyer Demand Holds Steady Despite Holiday Slowdown
The Fourth of July holiday brought its usual seasonal slowdown to the local real estate market. As expected, fewer homeowners chose to list their homes during the holiday week, and buyer activity softened as many people focused on summer travel and celebrations. Once the holiday passed, new listings picked up again, following the typical seasonal pattern. Mortgage rates also inched higher, rising from 6.25% to 6.375%, but the modest increase had little noticeable impact on buyer demand.
In Northwest Seattle, inventory remained virtually unchanged, slipping just 0.2%, while new listings declined nearly 20% compared to the previous two weeks. Despite the slower pace of new listings, the number of homes going under contract held steady, suggesting buyers are still active when well-priced homes come to market. Closed sales declined 27%, which is largely a reflection of the slower contract activity several weeks ago rather than current demand. Home values also remained stable, with the average sold price per square foot dipping just 1.9% to $582.
Southwest Snohomish County showed a similar holiday pattern, with new listings down 11%, while inventory continued to grow modestly. Pending sales were unchanged from the previous two-week period, indicating steady buyer demand despite the holiday interruption. Closed sales jumped 40%, reflecting stronger contract activity from prior weeks, while the average sold price per square foot was essentially flat, slipping just 0.2%. Overall, both markets continue to demonstrate stable pricing and consistent buyer interest, even as the summer season brings its normal ebb and flow in listing and sales activity.
Buyers are more selective, which means presentation matters more than ever. One unique way we help our clients stand out is through our complimentary Garden Photography Service. By professionally photographing your garden and landscaping while everything is in full bloom, we can preserve those images for future marketing, such as if you decide to sell during the fall or winter months. Learn more about our Garden Photography Service here: https://www.brennerhill.com/garden-photography-service/ or call or text Steve at 206-769-9577 with any questions.
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