This is a monthly contribution to the Blog by Greenwood realtor Doron Weisbarth
PhinneyWood broke away from the broader King County and Seattle trends in August, with strong market activity for both single-family homes and condos. Year-over-year and month-over-month closings and median prices were notably up, highlighting the enduring appeal and desirability of our neighborhood.
You can find all the latest data and the full analysis online—go to PhinneyWoodHomes.com.
This strength came while new listings and overall homes available for sale dropped sharply. And it’s especially notable because August is usually a slower month, as many people are preoccupied with vacations, sunshine, and summer activities.
One contributing factor was the dip in mortgage interest rates in early August, which gave buyers a bit more confidence. Whether this momentum carries into fall remains to be seen, but with rates continuing to drop—and possibly breaking below the 6% psychological barrier—we could see a larger-than-normal fall bump. Pent-up demand is clearly building, and once conditions align, it may be released in a big way.
Thinking about buying or selling this fall? Understanding how to navigate the market—and timing your move right—can make all the difference. Call Doron for a no-obligation consultation at 206-779-9808, and let’s create a smart plan to help you succeed.