The fall real estate season starts today!
Welcome to the start of the fall real estate season! Sure enough, last week was one of the slowest weeks of the year (so far) for new listings but this week should make up for it; expect many new listings to hit over the next few days. Regarding what else to expect, expect this fall to be busier than last fall. Last fall the season started with mortgage rates at 7.2% but they steadily increased to a high of 8% by the middle of October resulting in fewer homes being sold. This fall we’re starting with rates at 6.4% with the expectation that rates will improve, which should mean more homes being sold.
For buyers hoping to get into a home this year, these next few weeks are when you’ll finally see some new listings after a slow August.
For sellers hoping to sell before the end of the year, you should get your home on the market ASAP.
Links
- Year-over-year change in median monthly condo HOA dues (@newslambert on X)
- Has Park Row’s sales center build-out started? (UL)
Sellers held off on listing before the long weekend
Seattle: 123 new listings last week, down 48.1% w-o-w
Eastside: 123 new listings last week, down 34.9% w-o-w
Buyers were still reasonably active last week
Seattle: 157 pending last week, down 6.6% w-o-w
Eastside: 131 pending last week, up 1.6% w-o-w
Eye candy
$2.2m North Capitol Hill modern
$1.25m Matthews Beach midcentury modern
Eye candy <$1m
Check out last week’s market update, Quiet now but expect a busy fall
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