What stood out to me as I was going through the data for the past week was that a third of the homes in SW Snohomish County that went under contract did not have review dates and sold in only two days or less. This may sound like exciting news for the Sellers, however not having a review date and exposing the home longer to the market most likely left money on the table for those Sellers. Interestingly, the number of homes with review dates went from 60% for the previous two week period down to 39% for the past two weeks. This will be an interesting trend to watch for SW Snohomish County. Review dates in NW Seattle, while down this past week are up for this two week period from the last two weeks.
New listings in the past week jumped in both markets – up 82% in SW Snohomish and up 104% in NW Seattle! Buyers did not keep up with the new listings which is why we are seeing inventory numbers up in both markets, but up more sharply in SW Snohomish County.
Interest rates have been trending down, which is nice. Unfortunately, the reason for the recent reduction is due to inflationary concerns and declining consumer confidence in the economy.
We hope everyone has a lovely St. Patrick’s Day and enjoying the extra hour of daylight at the end of the day!
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
