There is not a lot to report on this week. As expected, the market is winding down for the year. Inventory continues to come down in both NW Seattle and SW Snohomish County. New listings were down by 5.6% in NW Seattle and up by 7.4% in SW Snohomish. Typically, Sellers who are coming on the market in December are very serious about selling.
While inventory levels continue to come down, this is an excellent time for Buyers. They are more apt to snag a better deal than if they wait until Spring. Buyers who are looking during the holidays also tend to be serious Buyers. This is evident in the number of homes going under contract.
Interest rates have been bouncing around the mid 6s for several weeks. The last Fed meeting of the year is this week. All expectations are for the Fed to cut rates by another ¼ point. This is welcome news for both Buyers and Sellers.
We hope you are having a lovely holiday season, and we will back in your feed for our last update of the year on December 30th.
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®
CELL 206-769-9577
SANDRA BRENNER
Managing Broker | REALTOR® | MCNE | SRS | CRS®
CELL 206-271-7100
WINDERMERE REAL ESTATE / NORTHWEST
311 N 85th St
Seattle, WA 98103
MAIN (206) 527-5250
brennerhill.com
Equal Housing Opportunity
