I'm so tired of COVID-19 and how it's affecting our communities in general. Oddly enough, it hasn't seemed to hurt our property values. We haven't had enough inventory for our buyers and this has caused the values to go up. For my sellers, it's been great, because they haven't needed to spend a lot of time on the market.
Freddie Mac has reported that mortgage rates have been below 3.3% for more than 4-weeks and are hovering near all-time lows. I personally refinanced my home to 2.99%, and I didn't even pay any points! Low interest rates have really brought the serious buyers to the market. We're up 4% vs a year ago in the final week of May. Even with all of these legit and serious buyers, sellers aren't listing, because buyer's might bring cooties into their home, while it's on the market.
In April, property values went up and in May, they have started to level out. I wonder if this boost in value is only artificial? I mean, when sellers feel more comfortable about having buyers come through their homes, maybe the market will be flooded with too many homes for sale?
I know, I know... You want to see the numbers:
Seattle's Housing Market at a Glance
For the Central Puget Sound:
King, Kitsap, Pierce and Snohomish Counties
- Closed Sales, decreased 37.8% for Residential homes and 51.8% for Condominium homes.
- Homes with Offers, decreased 4.0% for Residential homes and 9.7% for Condominium homes.
- Current Homes for Sale, decreased 44.1% for Residential homes and 23.7% for Condominium homes.
- The Median Sales Price stayed even this month for Residential homes but decreased 2.6% for Condominium homes.
- Days on Market decreased 30.8% for Residential homes and 24.0 for Condominium homes.
- Months Supply of Inventory decreased 45.0% for Residential homes and 23.8% for Condominium homes.
If you have a little time on your hands, you might like to check out one of my previous posts? You can find them here: www.vivaseattle.com/blog
Now for my personal share time with you. Please share with me too? Call me up, tell me your future real estate plans and update me on your life. I'm ready when you are!
1ST PHOTO: I'm so excited to say, our town is finally reopening, and I'm getting to go out with friends again! I'm sporting our Swedish colors on my mask, because my mom is half Swedish and Norwegian. My friend has the same heritage, so she's sporting the Norwegian flag on her mask. My husband is a Sicilian/Austrian dude, and I think he looks great in his mask, with that big beard puffing out everywhere, ha!
2ND PHOTO: You know how some people say we should stop and smell the roses? I generally do this but more recently I've noticed a tun of rabbits around my Belltown neighborhood. Everyone tells me they've always been there... I guess I just had to stop and look at the bunnies. I'm telling you, we have a LOT of them too.
3RD & 4TH PHOTOS: My dad and I loved looking at clouds when I was a little kid. To this day, I send him my finds. Important business, you know? The first photo is a rainbow cloud and the 2nd is a bear laying back in the sky. :-)