Monday (Tuesday) NW Seattle Real Estate Market Update | January 19th, 2021
This week we discuss the differences in the market in the beginning of 2021 compared to the same time in 2020. Average Sold Price is up about 14% which is great news for Sellers!
As always, we then discuss the housing numbers for NW Seattle for the week ending 1/17/2021.
We hope you have a great week!
Are you or anyone you know thinking about Downsizing in the future? Take the first step and join us for a free virtual workshop where we will be discussing housing options when Downsizing. We hope to see you there!
Housing Options When Downsizing
📅Thursday, Jan 28th @5:30PM on Zoom.
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We understand that it is a confusing time right now. Each Monday, we will be sending out an update based on our experience over the past week to give you the NW Seattle Real Estate Market’s “Temperature”. We are getting real time updates from our Lender each week as well. We want to make sure that you are as informed as we are. Please don’t hesitate to give us a call or shoot us an email if at any point you have additional questions or questions that relate to your specific situation.
𝐴𝑛𝑑 𝑎𝑠 𝑎𝑙𝑤𝑎𝑦𝑠, 𝑖𝑓 𝑦𝑜𝑢 ℎ𝑎𝑣𝑒 𝑎𝑛𝑦 𝑎𝑑𝑑𝑖𝑡𝑖𝑜𝑛𝑎𝑙 𝑟𝑒𝑎𝑙 𝑒𝑠𝑡𝑎𝑡𝑒 𝘰𝘳 𝘥𝘰𝘸𝘯𝘴𝘪𝘻𝘪𝘯𝘨 𝑞𝑢𝑒𝑠𝑡𝑖𝑜𝑛𝑠, 𝑓𝑒𝑒𝑙 𝑓𝑟𝑒𝑒 𝑡𝑜 𝑐𝑎𝑙𝑙/𝑡𝑒𝑥𝑡 𝑢𝑠 𝑎𝑛𝑦 𝑡𝑖𝑚𝑒! 𝑊𝑒’𝑟𝑒 𝑎𝑙𝑤𝑎𝑦𝑠 ℎ𝑒𝑟𝑒 𝑡𝑜 ℎ𝑒𝑙𝑝!
Steve 📲 (c) 206-769-9577 📧email@example.com
Sandra 📲 (c) 206-271-7100 📧firstname.lastname@example.org
Hey everybody, welcome to week 45 of our Monday market update. And yesterday was a holiday, so we are getting this out one day late but the stats are all for the week ending on Sunday, the 17th.
Interest rates as as they have been for several months now remain amazing. So conforming 30 year, 2.875% which is just up just just a tad.
VA 30 year, amazing, amazing, amazing rates at 2.5% for 30 years. I mean just crazy, crazy low money.
And then Jumbo is still doing great at 2.875%.
And System Wide, I was kind of curious like how things were looking last year compared to this year and System Wide right now, we’re kind of about the same amount of new listings coming on the market. Homes going under contract are up just a tad, I think right around 3%. And then looking at the average sold price for the last 11 weeks, comparing the last 11 weeks with the same period last year. Home prices are up about 14% which I think none of us would be surprised to learn that. And it was kind of interesting between those 11 weeks, Steve the appreciation ranged anywhere from 9% to all the way up to 21%.
So I don’t know, it kind crazy but what has happened in the last week in Northwest Seattle?
So last week there were 124 homes available. 48 were new on the market and 81% of those were vacant. And 54% of those homes had a review day. There were 33 homes that went pending sale with an average market time of 10 days. There were nine homes that went pending inspection with an average market time of 27 days. And there were 32 homes that closed slash sold with an average market time of 20 days. And it looks like the average price per square foot jumped up a bit. It’s by $524 a square foot. So good news for the sellers.
Right. It was nice to see that buyers are definitely back in the market. There was quite a few more homes that went under contract this past week than there were the previous week. So yeah, it’ll be interesting to see what 2020 brings and we will be here week by week letting you know what’s happening.
And it’ll be interesting to see what 2021 brings too.
Did I say 2020?
It’s okay. We’re in confusing times, Sandra.
Okay. Everybody have a great rest of the week and we’ll be in touch next week.