Wow, there is a big difference between the number of new listings in NW Seattle and SW Snohomish County. Usually both markets move in similar ways. It is interesting to see that new listings were up by 15% in NW Seattle and down by nearly 40% in SW Snohomish. I have no explanation as to why listings are down so much in SW Snohomish. However, that is good news for the Sellers currently on the market in SW Snohomish, since they have less competition. Homes going under contract were also down, but only by about 8%. The lack of new listings and the decent Buyer activity caused the overall inventory to come down by almost 17% in SW Snohomish.
It is nice to see older inventory getting absorbed out of the market. In SW Snohomish 40% of the homes going under contract had been on for 10 days or more and in NW Seattle it was 51%. Again, good news for Sellers.
Interest rates have crept up from their recent lows and have been bouncing in the lower 6s. Another Fed rate cut would be welcomed by all.
We hope everyone has a fun Halloween. We’ll be back in your inbox in November.
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
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