Happy August! We are quickly approaching the busy fall season, and it is my pleasure to provide to you as much relevant real estate information as possible as your real estate professional. 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):

“ KIRKLAND, Washington (August 5, 2021) - Competition for homes eased slightly in July across much of Washington state, but brokers from Northwest Multiple Listing Service expect the respite to be short-lived, with inventory still tight and prices still climbing. "Although the local market is intense, buyers can find some relief because there aren't as many offers to compete with compared to earlier this year," observed J. Lennox Scott, chairman and CEO of John L. Scott Real Estate. He noted the number of listings brokers added last month outgained the number of homes going under contract by a small margin in most areas in the report. Northwest MLS brokers added 12,916 new listings to the database during July. They reported 11,567...." To read the complete NWMLS July Press Release click here

Square Template - Sold Katie and Nick.jpg

Even in this challenging buyers market, I was able to help my clients find homes they love. Chuka and Paulina were searching all around the Eastside; Bellevue, Sammamish, Bothell, Kirkland, Redmond, and actually ended up finding the gorgeous home above in Renton. Katie and Nick were searching in and around Gig Harbor, and were able to find this lovely home right on the lake!

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 - Tina gives a complete economic overview and how that relates to real estate. Demand is high, supply is low, the market is hot. (See Tina’s 4 minute 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.

July 2, 2021 - Rates Defy Jobs Report; No New 40yr Loan; Red Hot Home Prices
July 9, 2021 - Lowest Rates in More Than 5 Months. What's Next?
July 16, 2021 - Big News For Refi Rates As Adverse Market Fee is Removed
July 23, 2021 - Mortgage Rates In Best Territory Since February
July 30, 2021 - What Did The Fed Do To Mortgage Rates?

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

May 21, 2021 - Home Sales Fall
June 4, 2021 - Solid Job Gains
June 11, 2021 - Inflation Picks Up
June 18, 2021 - Fed Surprises Investors
June 25, 2021 - Inflation Climbs

Compared to last week new listings are way up (+528)! With the Fourth of July falling on a Sunday many people took their vacations the week before or after. The pending, sold, and other categories had minimal change from the prior week. If you are looking for info specific to your neighborhood, please call, text, or DM me for info! Thanks! 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 is still low. 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

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