🏠 Inventory and price reductions hit a high for the year

We’ve talked to many would-be-home sellers about pricing over the last week. What makes pricing conversations challenging right now is that last week the number of homes for sale hit another high for the year and nearly 9% of those homes had price reductions. Meanwhile, rates are stuck above 7%. This is likely just the usual seasonal slowdown but it is still a good reminder that you usually want to sell earlier in the year rather than later. And for buyers, it is better to hold off on buying.

But enough about our likely slowing market! The forecast for the Fourth of July and this weekend looks great! Now is the time to get on the lake; it is no surprise that we’re showing three clients places on the water this week.

Have fun on Thursday!

— Matt Goyer, Land Cook, Maggie & Nancy

LINKS

• WA program to help first-time homebuyers with history of discrimination (Seattle Times)

• Former GE executive buys mansion in Medina (PSBJ)

• Former corporate execs list Bellevue Waterfront home at $5.8 million (PSBJ)

• An Orcas Island Home Was the Dream. Here’s How They Made It a Reality. (NYT)

• Home builder pays $29 million for downtown Woodinville property (PSBJ)

• Sidewalks top of mind for Seattle’s priciest-ever transportation levy (Seattle Times)

NEW LISTINGS BY WEEK

HOMES GOING PENDING BY WEEK

HOT NEW LISTINGS
Eye candy

Eye Candy <$1m

Last week’s eye candy winner - North Admiral midcentury.

THAT’S A WRAP
Here are 2 ways we can help

1. Thinking of buying? Now is the time, this is peak home-buying season. Hit reply, we’re happy to help. Or join our next home-buying class.

2. Thinking of selling? Hit reply, we can handle everything from start to finish but September is likely a better time to sell than over summer.