Real Estate Market Update - Seattle and Bellevue - September and October 2020

Real Estate Market Update - Seattle and Bellevue - September and October 2020

Jennifer Suemnicht

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):

“Would-be homebuyers have more buying power, but also more competition for meager inventory - Extremely low interest rates mean would-be home buyers have more buying power, but sparse inventory and increasing home prices in many parts of Washington state are leaving many buyers unable to take advantage of these attractive rates, reported broker Frank Wilson upon reviewing the latest statistical report from Northwest Multiple Listing Service.”… To read the complete NWMLS September Press Release click here

“Northwest MLS brokers say September's home sales reached highest level since June 2018 - Northwest Multiple Listing Service brokers completed 10,175 sales transactions during September – the highest monthly volume since June 2018 when MLS members reported 10,072 closed sales. September’s closings also marked a jump of nearly 28% from the same month a year ago, according to the latest statistical summary from the MLS.”… To read the complete NWMLS October Press Release click here

Since July 7th, Wearing face masks is required for all in-person real estate showings. For a link to more info please read the Overview of COVID-19 Statewide Face Covering Requirements.

Virtual Tour at Harbor Place 10.20.jpg

In-Person Open Houses

are back! Masks are required and 5 people max at a time, along with other Covid protocols. Virtual tours also available by appointment.

On October 6th, the Governor announced that limited open houses are now permitted in all counties. In order to hold an open house, the firm and broker must take measures to ensure that occupancy is restricted to the gathering size permitted by the current county phase and all other required protocols are followed (face coverings, social distancing, sanitation, etc.) For Phase 2 counties - no more than five (5) people, in addition to the broker, may be in the property at any one time. For Phase 3 counties - no more than ten (10) people, in addition to the broker, may be in the property at any one time. For more complete info see the NWMLS Bulletin

Compared to last year closed sales & median price are up considerably and inventory much lower than October 2019. Listings and pending sales are also up. Click to this YouTube Video for more info.

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

Click on the video image above for the latest Mortgage Minutes with Tina Mitchell for an explanation of:

Mortgage Options - There are many options available - including buying down points, avoiding PMI, closing costs, and more!

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!” Read more about Tinawww.TinaMitchellTeam.com

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

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.

Click this image to connect to Mark.

Click this image to connect to Mark.

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

Week after week the amount of pending listings continues to exceed the number of new listings, furthering the low inventory that continues to make our real estate market so competitive. Despite the pandemic, buyers are still taking advantage of incredibly low (under 3%) interest rates. It’s still a great time to buy or sell!

Here are some links to more articles & videos.

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

September market stats - for your reference. Let me know if you'd like information specific for your neighborhood!🔑👩‍💼🏡 Jen www.JensRealty.com

Supply v Demand Seattle Infospark Data 11.12.20.jpg
Supply v Demand Bellevue Infospark Data 11.12.20.jpg
Supply v Demand Tacoma Infospark Data 11.12.20.jpg
Supply v Demand Everett Infospark Data 11.12.20.jpg

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


Real Estate Market Update - Seattle and Bellevue - November and December 2020

Real Estate Market Update - Seattle and Bellevue - November and December 2020
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