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MY REAL ESTATE BLOG

Navigating Seattle Real Estate


Seattle real estate KOMO News broadcast booth

Welcome to our recap of Sunday’s Street Talk Radio Show with Chris Davies, where real estate trends in the Seattle area take center stage. Joining the discussion was Carmen “CC” Crispeno, offering valuable insights into the local market landscape.

 

Inventory Dynamics

 

Nationally, reports suggest an uptick in listings, particularly noticeable in states like Texas and Florida where increased inventory has led to price adjustments. But what about the Pacific Northwest? Seattle remains strong, with inventory constraints fueling intense competition. Many properties are seeing a remarkable 4-8 offers per listing as the influx of new residents continues to drive demand.

 

Interest Rate Dilemma

 

Seattle real estate interest rate graph

One would expect increased interest rates to cool off the market, but surprisingly, rates have been on the rise. Could we soon find ourselves reminiscing about missed opportunities? It’s a valid concern, especially with rates inching past the 7% mark.

 

Yet, buyers seem undeterred, eager to seize the moment amidst fierce competition. Even as rates climb, multiple offers persist, pushing buyers to craft stronger, more enticing offers, often with a speedy ten-day closing window and few contingencies.

 

Timing is Key

 

The question on everyone’s mind: buy now or wait for a potential rate drop? Those who hesitated last year saw prices soar, prompting a “buy now or regret later” sentiment. And with predictions of a rate drop looming, the urgency to act sooner rather than later is palpable. Agents are adjusting listing prices upwards, riding the wave of escalating home values. But will this upward trajectory ever plateau? It’s a valid concern, especially when paying 10% more today seems prudent compared to what may lie ahead.

 

But this is Just the Beginning of the Conversation

The  Seattle real estate market continues to remain strong. As prices climb and competition remains fierce, buyers must act decisively to secure their dream home amidst the ever-evolving landscape.

 

Listen to the rest of the broadcast!



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Content by Remington Crispeno Team Seattle Realtors

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