For those of you not chasing the path of totality, thank you for sticking around and reading this week’s Market Update!
We’ve had an interesting week-over-week for stats. In both NW Seattle and SW Snohomish County, listings were up dramatically from last week – 250% for SW Snohomish and 165% for NW Seattle! However, looking at the past two weeks in both markets, we are up less than 5% in each. Homes going under were down in both markets. Part of this dip in homes going under contract could be related to Easter and various schools out for Spring break. Seattle Public School Spring Break is this week, so it will be interesting to see the stats for next week.
This past week, 87% of new listings in SW Snohomish had review dates. In NW Seattle 57% overall had review dates. However, if we remove Townhouses from the calculation, then 87% of new listings also had review dates.
For the past month, interest rates have been bouncing within a ¼ point range, from 6.375% to 6.625%. This is a pretty tight range which helps give stability for Buyers. We’re all still wondering when the Fed will start cutting rates. The strong job reports from last week and February’s higher than expected Personal Consumption Expenditures (PCE), would signal that rate cuts are probably not going to start in the first half of the year.
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 HILL
Broker | REALTOR® | Luxury Advisor | Premier Director
CELL 206-769-9577
SANDRA BRENNER
Managing Broker | REALTOR® | MCNE | SRS | CRS®
CELL 206-271-7100
WINDERMERE REAL ESTATE / GREENWOOD
311 N 85th St
Seattle, WA 98103
MAIN (206) 527-5250
brennerhill.com
Equal Housing Opportunity
