This is a monthly contribution to the Blog by Greenwood realtor Doron Weisbarth
In the heart of Seattle, our PhinneyWood neighborhood stands out amidst the broader real estate landscape. Unlike the downward trends seen in the rest of Seattle and King County, PhinneyWood experienced a notable surge in home sales compared to last November, despite a marked drop in new listings.
With demand outpacing supply, home prices remain strong. The cost per square foot reflects a significant year-over-year increase, emphasizing the sustained desirability of our community. As mortgage interest rates continue to decline, we anticipate more buyers entering the market, putting upward pressure on pricing.
For a details about PhinneyWood’s real estate dynamics, you can find the full analysis, including a host of charts, online at PhinneyWoodHomes.com.
As we approach the year’s end, the real estate market traditionally favors buyers in the last quarter and sellers in the first quarter. It will be interesting to see how these dynamics play out in our neighborhood. Stay tuned for updates!
If you’re considering selling your home in 2024, consult with Doron to strategically navigate market timing for a successful sale. Call for a no-obligation consultation at 206-779-9808. Your path to a lucrative home sale begins with informed decisions.
