Happy March! The busy spring season has begun and as your real estate professional, it is my pleasure to provide to you as much relevant real estate information as possible. This article contains numerous links to more information, videos with quick infographic statistic updates, and updates from local lenders from the mortgage & financing prospective. Contact me anytime to discuss this info and what it means to you. Let me know if you would like specific information for your neighborhood and share with me any information you come across to help me make this info the best it can be.

According to the Northwest Multiple Listing Service (NWMLS):

“ “Insatiable buyer demand” is keeping inventory scarce as house hunters try to outmaneuver and outbid each other, according to reports from Northwest Multiple Listing Service (NWMLS). Its statistical summary for December showed strong activity throughout the holiday season with double-digit increases in new listings, pending sales, closed sales, and prices. Northwest MLS brokers added 5,260 new listings to inventory during December, a hefty 39.3% increase over the same month a year ago.”… To read the complete NWMLS January Press Release click here

“Home buyers who have been precluded from entering Puget Sound’s competitive market may want to consider condominiums as an option, according to industry experts who commented on the latest housing statistics from Northwest Multiple Listing Service. “With the trend toward telecommuting and moving to outlying suburban areas, the Seattle/King County condominium market presents a new option,” suggested Gary O’Leyar,”… To read the complete NWMLS February Press Release click here

Virtual Tour at Harbor Place 10.20.jpg — In Person Open Houses Are Back!

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Now that the Puget Sound region has entered Phase 2 of Governor Inslee’s “Roadmap to Recovery” plan, in person open houses are now allowed! Open houses must not have more than 10 people on the property at one time, and everyone there is still required to wear a face mask covering and comply with social distancing regulations. For more information on Phase 2 in regards to real estate, click here. Of course, if you don’t have the ability to come to an in person open house I am still offering virtual ones by appointment. I am also still offering in person or virtual showings to buyers of any home that’s for sale.

Compared to last year; prices, closed sales, and new construction are all up, but inventory remains down. Although new listings are up a little bit, pendings are still exceeding the new listings. So, if anyone is thinking about selling a home it’s a great time to sell! And for those looking to buy, I’ve got the experience and expertise to help you find a home you love!

Lender updates from Tina, Eric, & Mark

If you want to know what is happening with the money-side of things in real estate, ask a mortgage lender. Below is info from Tina, Eric & Mark. I hope you find this info helpful. These lenders are available for you and can provide information to you regarding your plans to purchase or refinance a home. Let me know if you talk with them and how I can assist you as your Realtor. Thanks! Jen 206-550-1676

Mortgage Update - Interest rates have gone up a bit this last month. Interest rates are still at historical lows and with inflation expected to rise, now is the time to buy! (See Tina’s video above)

Tina Mitchell with Highlands Residential Mortgage is a fabulous lender. She has been in the mortgage industry for over 2 decades and has been recognized in the top 1% Nationwide. She is a numbers gal and can talk with you about possible loan options. I also really like her communication style. You can schedule a time with Tina now (for a video zoom conference call) using this link. She is available by cellular phone and even works nights & weekends! Tina promptly follows up your no obligation consultation with informative emails showing your different loan options, estimations of costs, and other important info in writing and throughout the process has the best communications of any lender I have ever seen. The first step is to schedule a meeting to review loan options, cash needed and payment breakdown. There is no cost or commitment to move forward, it’s just education. Call Tina now or if it’s more convenient you can use the following online calendar to Schedule a Consultation at https://calendly.com/tinamitchell/. Tina Mitchell, Highlands Residential Mortgage • Loan Originator, NMLS 145420 • Cellular: (425) 647-0205 • “Live Your Dream Now!” See Tina’s website at: www.TinaMitchellTeam.com

Click this link for Eric’s website and to contact Eric.

These thorough market updates from lender, Eric Aasness, Branch Sales Manager, Homebridge Financial are full of great charts and economic information. At the end of each article, Eric has included the links to more than 10 additional articles related to home loans and the real estate market.

January 8, 2021 - Have We Seen The End of Record Low Rates?
January 15, 2021 - Refi Demand Surges as Mortgage Volatility Comes Roaring Back
January 22, 2021 - More Stellar Housing Numbers. How Long Can They Last?
January 29, 2021 - Rising Rate Risks Returning
February 5, 2021 - Rates Under Pressure Despite Weak Jobs Report
February 11, 2021 - When Will The Mortgage Market Actually Care About Rising Rates?
February 19, 2021 - Time to Wake Up To The New Mortgage Rate Reality
February 26, 2021 - Brutal Week For Rates But There's Hope (Hopefully)

Here are some additional market updates provided by Mark Williams at Fairway Independent Mortgage Corporation:

January 8, 2021 - Georgia Election and Strong Data
January 15, 2021 - Stimulus, Fed, Retail Sales
January 22, 2021 - Home Sales Remain Strong
January 29, 2021 - Rising Inflation
February 5, 2021 - Mixed Labor Market Data
February 12, 2021 - Inflation Remains Low
February 26, 2021 - Rising Inflation

There are more new listings this week which means the market is heating up! Inventory still remains low, but that doesn’t mean I can’t help you find an awesome house suited for your needs!😊 DM, text, call, or contact me through my website www.JensRealty.com with any questions you may have! -Jen 206-550-1676 🏡🔑

The graphs below contains information specific to the West Seattle area. Also, all of the images below are links to the interactive versions of the graphs! Just click on a graph and move your cursor along the line to see specific stats for every month throughout the years 2018-2021. Contact me if you have any questions or if you want any of these graphs made for your specific area!

West Seattle Real-estate zip code comparison of Median Sales Price

West Seattle Real-estate zip code comparison of Homes for Sale

Inventory throughout this year has remained low and continues to drop. This means that currently there are more buyers than sellers, making this an amazing time to sell!

West Seattle Real-estate zip code comparison of Median Days on Market

As you can see the days a listing spends on market tends to spike at the beginning of each year. This is mostly due to the fact that January and February are follow up months to an extremely busy Holiday season starting in November.

West Seattle Real-estate zip code comparison of Median Price Per Square Foot

If you have any thoughts or questions about this information or would like to talk, please call or text me at 206-550-1676. If you find great articles that you would like to share with me, please email those to me at jen@jensrealty.com. I am always working hard to be your source for real estate information!

Check back for more updates throughout the year. Let’s talk about the market now in your neighborhood, your real estate goals, and whether or not this is a good time for you to list and sell your home. Call, text, or email anytime. I’m always here to help! Thank you,

Jennifer Suemnicht - Jen's Realty - RE/MAX Metro Realty, Inc.

www.JensRealty.com / 206-550-1676 / jen@jensrealty.com

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With inventory and interest rates at historic lows it’s a great time to sell. And if you are looking to buy, I can help you with a smooth transition into a home you love! Click the photo to contact me, or you can call/text me at 206-550-1676! - Jen:)

Here are some links to more articles & videos.

These helpful links are provided by Eric Aasness. If you find great articles that you would like to share with me, please email those to me at jen@jensrealty.com. I am always working hard to be your source for real estate information! Thanks, Jen

Jennifer Suemnicht - Jen's Realty - RE/MAX Metro Realty, Inc.

Realtor / Broker

206-550-1676 / www.JensRealty.com