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7/25/22 It’s still a seller’s market.
The housing market has cooled just a bit after a very hot stretch due in part to new lending regulations, a rise in interest rates, and a more than 20% rise in home prices in 12 months. Pent up demand is still in place from the days of 29 disappointed buyers for every home sold so don’t expect a big dip in West Seattle, there are 13 homes/condos for sale under $700,000 and a total of 52 for sale with an average list price of $1,069,422.
61 Sales over $1 million in the past 2 months and 20 sales under $700,000.
Statewide the median sale price for June was $650,000. This is a more than 10% increase from the previous year.
7/18/22 Average 30 year fixed interest rate is 5.51% which is still a historically low number!
Washington has the nation’s strongest economy based on economic activity, economic health and potential for innovation.
Rents continue to rise in Seattle generally but even more so in West Seattle. If it’s been a while since you increase the rent on your investment property, it’s probably time! Let us know if you would like an investment analysis update,