The NW Seattle area housing market is great for both buyers and sellers. Buyers are out in force β our open houses this past weekend were packed.
New listings were down about a third in July compared to June. This means inventory levels are low with 175 homes ποΈ currently available in Northwest Seattle. There were 58 new listings last week and 52 homes went pending with an average of less than 9 days on market.
54 homes closed and 55% sold for above the asking price. So while this is great news for sellers, there are some great opportunities for buyers out there β of the homes currently available, 66% have been the market for more than 10 days with an average of 55 days.
βIf you’ve been thinking about selling your Seattle home, click to find out what your home is worth in our fast-moving market! π‘ Visit https://www.brennerhill.com/go/home-value/ We will email you a free Market Analysis Report for your home.
We hope you have a great week!
-Steve & Sandra
π΄ππ ππ πππ€ππ¦π , ππ π¦ππ’ βππ£π πππ¦ πππππ‘πππππ ππππ ππ π‘ππ‘π ππ’ππ π‘ππππ , ππππ ππππ π‘π ππππ/π‘ππ₯π‘ π’π πππ¦ π‘πππ! ππ’ππ 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:
Steve Hill:
Welcome to August and Week 73 of our Monday Market Update. For those of you new to this video, we track real estate statistics each week for Northwest Seattle. So normally, we would expect a little bit of a summer slowdown, but so far we’ve been humming along with just a slight summer slowdown. I will tell you, buyers are out in force. I had open houses both Saturday and Sunday this last weekend and they were packed, so I know buyers are really out there ready and willing to buy homes. Interest rates have remained the same for the past year. Great news for buyers. They’re humming along at about 3% over the course of the last year.
Sandra Brenner:
Yeah. That is super great news for buyers. New listings are actually down in July from June. We don’t have the official count in yet, but from my numbers, it looks like listings are down by about a third. So this has really helped keep our inventory levels low. Currently, in Northwest Seattle, we have 175 homes available for sale. This past week, we had 58 new listings, and then homes going under contract have been able to keep up with new listings coming on. We had 60 homes go under contract. 52 went pending with 83% of them going under contract in nine days or less. We had eight homes go pending inspection with 50% of those going under contract in nine days or less. So of course, this tells us that, priced correctly, your home should be selling in typically under 10 days.
Sandra Brenner:
We had 54 homes close. 55% are still selling above their asking price for an average of 110% of asking. So, great news for sellers there. And only 15% are selling below their listed price for an average of about 98% of asking. And these percentages have been really consistent over the last several weeks. Of the 175 homes currently available, 66% have been on the market for 10 days or more, and they’ve been on for an average of 55 days, so buyers, there are definitely some opportunity out there for you. Just goes to show, sellers, you need to price your home correctly. And speaking of sellers, mark your calendars. September 30th is our next home selling seminar. We’ll have more information out there later for you guys, but if you’re interested in attending, go ahead and send me an email at sbrenner@windermere.com. And of course, don’t forget to like this video, and please subscribe to our channel.
Steve Hill:
Have a great week, everybody.
