We hope everyone had a safe and happy 4th of July celebration!
As expected, we didn’t have a lot of activity last week because of the holiday. We only had 20 new listings hit the market, versus 93 the previous week. 50% of this week’s listings had review dates, which is up from the previous week of only 35%. I expect quite a few new listings to hit the market this week and the next.
The Buyer activity was a bit stronger than I had expected. The previous week we had 45 homes go under contract (40 Pending and 5 Pending Inspection), this past week we had 35 (28 Pending and 6 Pending Inspection). We were only down by 22% for the week. I thought that was pretty good, given the holiday.
This upcoming week may also be another light week for Buyer activity as people extend the 3-day holiday to include more days.
Good news for both Buyers and Sellers is that interest rates have been coming down and were at 5.25% for conforming and 4.5% for jumbo as of 7/1 from the source that I get rates from each Friday. This is down from the height on 6/10 of 5.875% and 4.875% for Jumbo. Hopefully, this decline in interest rates will encourage more Buyer activity!
Enjoy the rest of your holiday week! We’ll be back on July 18th for our next recap of the NW Seattle Real Estate Market.
-Steve & Sandra
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 📲 (c) 206-769-9577 📧stevehill@windermere.com
Sandra 📲 (c) 206-271-7100 📧sbrenner@windermere.com
🔗 Brennerhill.com
Windermere Real Estate /FN
