In NW Seattle, new listings nearly doubled from the previous two weeks. Sellers were waiting until after Labor Day weekend to go on the market, which created a flood of new listings. In SW Snohomish new listings were also up by 56% over the previous two weeks. Not to be outdone, Buyers were also very active in the past two weeks. Homes going under contract were up by nearly 109% in NW Seattle and were up by 54% in SW Snohomish. However, Buyers in NW Seattle were not able to keep up with the number of new listings that hit the market. This pushed inventory up by another 9%.
Sold prices were up in both markets. But as I always say, two weeks is not a trend.
As expected, the Fed did their first rate cut last week by a ½ a point. This is on the high side of what was expected. Interest rates had been coming down for the past few months but have held steady for the past 3 weeks.
Have a lovely couple of weeks and we will be back in your In Box in October!
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
