A Quick Word on Our End-of-Summer Market

Where does our market stand as we make our way through September of 2019?

Our first and second quarters were really strong, but just like the previous few years, we’ve seen a bit of a summer slowdown lately. This trend has become somewhat like an annual tradition here in the Northwest, considering we only have nice weather for about three months of the year. So, during those three months, kids are out of school, families are on vacation, and people’s minds are occupied with things other than real estate.

Now that Labor Day has come and gone, things will likely pick back up, and we’re expecting another strong September and October—especially now that interest rates have dropped. However, this is all very neighborhood-specific. Here in Seattle, some data suggests prices are dropping. On the east side, things are pretty flat. In Snohomish and Pierce counties, though, things are moving quicker than ever.

Another big factor to consider, besides location, is price point. Entry-level homes are selling quickly, while mid-range homes are moving at a more average pace. In the luxury price points, we’re seeing a bit of a slowdown.

If you have any more questions about our market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to help you.