This is a monthly contribution to the Blog by Greenwood realtor Doron Weisbarth
In 2024, our local PhinneyWood market and the greater Seattle market outperformed 2023, but overall activity remained slow compared to many previous years. Contributing factors included mortgage interest rates rising even as the Federal Reserve lowered the prime rate twice; reluctant sellers holding on to their locked-in low rates; and election uncertainty, which left many consumers on the sidelines.
Still, the year ended with a slight uptick in our neighborhood market activity and a modest price increase, highlighting the continued desirability of PhinneyWood homes. To see the latest date and the full analysis online go to PhinneyWoodHomes.com.
As we move into 2025, the annual market pattern will likely repeat, but the big question is how many homes will actually sell compared to past years. Pent-up supply and demand are still building, and buyers are ready—now everyone is waiting for sellers to list. If enough sellers step up, expect a good year with moderate price growth; if not, prices could rise more sharply.
If your New Year’s resolution is to buy and/or sell a home in 2025, then ask about my 3-step system for buyers, and 5-step system for sellers to get the most from your transaction. To customize these plans to your needs with no obligation, call me at 206-779-9808.
