Seattle Market Update
Long-term mortgage rates are at their lowest point in nearly three years. Lower mortgage rates usually help with affordability, however, in a market like Seattle where prices are still high and wage growth for the average person haven’t kept up with prices, it is doing little to make a home purchase affordable in the city.
However, areas immediately outside the central Puget Sound region and homes along the I-5 corridor continue to see house price growth. Buyers continue to be drawn to areas outside King County in search of affordability.
September is usually a good month for fresh inventory as homeowners who wish to sell their house before the winter season will look to put their home on the market. We are expecting more homes to hit the market in the next couple of weeks.
NEW LISTING / pending inspection / backup offers encouraged: 4207 S. Willow St, Seattle, WA – $535,000
Charming, bright and cheerful 3bd/1bth plus den mid-century rambler set in zen garden space. In-city retreat, gardener’s dream. Private, fully fenced backyard features fruit trees, vegetable & herb garden, gorgeous flowers and stunning ornamental trees. Zen garden space in front. Shops, restaurants and parks nearby. Othello LR station within walking distance. Large den/office/studio space and spacious dining off kitchen. Many system and esthetic updates, including kitchen and bath. Turnkey. Clean. Don’t miss this gem!
9911 197th Ct NE, Redmond, WA – $1,225,000 – Exquisite Novelty Hill Home – Under Contract.
10717 Burke Ave N #E, Seattle, WA – $369,000 – Northgate Townhouse – Under Contract.
917 23rd Ave, Seattle, WA 98122 – $620,000 – Central District Charmer – Sold 09/03/2019.
Did you know?
More residents will be eligible for property tax reduction in 2020. King County Assessor, John Wilson, announced that low-income senior citizens, individuals with disabilities, and disabled veterans, with 2019 annual incomes below $58,423 may be eligible for property tax relief in 2020 under guidelines published by the state Department of Revenue. The previous threshold had been $40,000. Applications for the expanded programs will be available in January 2020. Contact us if you need more information on this topic and how to apply for the reduction.
Thank you / Congratulations
Thank you to Mary Clare for referring Katherine!
Congratulations to William and Zoe on the sale of their home!
Congratulations to Heather and Phillip on the purchase of their new home!
We’d love to hear from you. Any questions, comments, or feedback? Contact us any time.
Thank you, Kerstin
Brooks & Heinze Team
at Skyline Properties, Inc.
Kerstin Brooks: 206.276.5827
Krisanne Heinze: 206.920.2541