Monday NW Seattle Real Estate Market Update | February 1st, 2021
Happy February!
This week we start out talking about low interest rates. We recommend that if you are in a position where you can refinance, you should! Rates have remained phenomenally low over the past few months. You could lower your monthly mortgage payment like Steve just did!
As always, we let you know the housing numbers from the past week including Number of Listings, New Listings, Pendings, Solds, Price Per sq/ft and more. We also take a moment to check in on how the townhouse market is doing right now.
Next week we will be getting the Trendgraphix report. Trendgraphix is a leading provider of highly visual MLS data market trending and market share.These reports will allow us to pull much more detailed real estate information for NW Seattle and compare it to previous years, so stay tuned next week.
We hope you have a great week!
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 Marketβs βTemperatureβ. 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 donβt 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.
π΄ππ ππ πππ€ππ¦π , ππ π¦ππ’ βππ£π πππ¦ πππππ‘πππππ ππππ ππ π‘ππ‘π π°π³ π₯π°πΈπ―π΄πͺπ»πͺπ―π¨ ππ’ππ π‘ππππ , ππππ ππππ π‘π ππππ/π‘ππ₯π‘ π’π πππ¦ π‘πππ! ππβππ πππ€ππ¦π βπππ π‘π βπππ!
Steve π² (c) 206-769-9577 π§stevehill@windermere.com
Sandra π² (c) 206-271-7100 π§sbrenner@windermere.com
Video Transcript:
Hey, everybody welcome to week 47 of our Monday market update. And, you know, I feel like I donβt even need to talk about Rates cause all I need to say is theyβre pretty amazing. So if you havenβt re-financed definitely think about doing that, but what I do wanna talk about so itβs really felt like a more robust sellerβs market in January compared to last year. But when I looked at the first three weeks in January, comparing 2021 to 2020 whatβs interesting is new listings are up by 12 and a half percent and pending properties are up by 12 and a half percent. So theyβre both up at the same. So I donβt know why it feels more robust but next week, the stats will be out from Trendgraphix. So Iβll be able to really compare January, 2021 to January, 2020 for just Northwest Seattle. And I will have that report for you all next week. But what has happened this past week, Steve?
last week in Northwest Seattle, there were 122 listings for sale. And thatβs exactly what it was the week before. So that number is unchanged. There were 45 new listings. 78% of those listings were vacant. 33 homes had a review date. Thatβs 73% of the listings and a vast majority of those homes that had a review date were not Townhomes. Townhomes did not very often have a review date Townhomes have slowed down the activity on the Townhomes is definitely-
Yeah, thatβs been a trend that weβve been seeing. Thatβs kind of surprising. Cause you know Townhomes are kind of a great affordable way to get into a neighborhood, right? So thatβs, thatβs a little surprising to me.
And pending sales, 33 homes went pending average market time 13 days. Homes that went pending inspection- There were 10 of those and those had an average market time of 44 days. 26 homes closed with an average market time of 22 days. And the average price per square foot dropped a little bit to $485 a square foot. But that numberβs kind of volatile from week to week. So not a big, not a big concern.
Right? So yeah. So hope everybody enjoys this first week in February tomorrow is Groundhogβs day. Hopefully what is it? Six more months or six more weeks of winter. I forget.
Not months! weeks! Weβd be into July by the way, Sandra mentioned refinancing, Re-finance, if you can because I just refinanced and my house paymentβs gonna go down quite a bit. At least itβs enough to cover the increase in the taxes that went up. So that was my big incentive. But yeah, refinancing it- It doesnβt make any sense not to do it.
Thatβs true. Have a great week everyone.
Bye now.
