Monday NW Seattle Real Estate Market Update 📅 July 6th 2020
We look back at the previous week which included 4th of July weekend. We usually see a drop in inventory at this time, and this year was no different.
We also take a look at the numbers for Keybox Activity and were pleased to see it remaining high and almost 90% of what we saw in 2019.
It continues to be a hot Seller’s Market in NW Seattle!
Curious what your home is worth in today’s market? Visit http://bit.ly/38qh6z1
Welcome to week 17 of our Monday Market Update, and we so hope everybody had an awesome 4th of July. And what normally happens over holiday weekends is we do get a drop in inventory, and that definitely happened last week.
Last week, there were 32 new homes that came on the market in North West Seattle compared to the previous week where there was 66 new homes. So, again, people are probably holding off not listing their home for sale during a holiday weekend.
There were a total of 166 homes for sale in Northwest Seattle compared to 201 the week before, so inventory down a bit. Homes that went pending sale, 46 homes went pending sale after 15 days on the market. Previous week, 41 homes went pending sale after nine days on the market. Homes that went pending inspection. 23 homes went pending inspection with an average market time at 23 days. Previous week, 12 homes went pending inspection with 32 days average market time. Closed sales, 50 homes closed last week with an average market time of 20 days, and the previous week, 47 homes closed with an average market time of 11 days. Last week, the homes that sold had an average price per square foot of $535, and the previous week, $536, so that remained about the same.
In Seattle and King County, it was the same story, we had about half of the normal new inventory come on the market. So again, it’s just because of the holiday weekend.
Keybox activity remained really strong, and of course keybox activity is a week behind us. So for the last week in June, we were up 14% for keybox showings. And what was interesting is looking at June 2019 versus June 2020, June 2020 stats for keybox openings, we were almost 90% of the keybox openings for June of 2019, so I actually thought that that was really good. And of course the stock market and all of the indices closed higher last week, and jobs were significantly better, the jobs report was significantly better, so I think, you know, things are just kind of slowly moving along and ticking up.
If you are curious what your home is worth, definitely click below and we will get you a no obligation report on what we think your home is worth right now in this pretty incredible sellers market.
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 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. We are always happy to help.
Cheers!
-Steve & Sandra
Steve 206-769-9577 stevehill@windermere.com
Sandra 206-271-7100 sbrenner@windermere.com
