Inventory levels continue to stay high, with new listings up in both NW Seattle and SW Snohomish County. The market slowed this past week versus the previous week, with fewer new listings and fewer homes going under contract. However, when you compare the last two weeks to the previous two weeks, new listing and homes going under contract are up.
While the majority of homes sell at or above their list prices, we are seeing an increase in the number of homes that sell below list. Over the past 5 weeks the number of homes that sell for less than their asking price has been more than the number of homes that sell for over their asking price. Looking at the same period last year, more homes did sell for over asking, than under asking. I believe we have a combination of the typical summer slowdown compounded by Buyer caution due to economic uncertainty. Interest rates have remained steady in the mid 6s, which gives some stability for Buyers.
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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