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Seattle Market Update: What You Need to Know NOW! 🚀

Seattle Market Update: What You Need to Know NOW! 🚀

Sinan Abbasi
March 21, 2025

Local Market Update

The greater Seattle area housing market is looking strong, and here's the breakdown:

We're seeing some homes attract multiple offers – competition is back! 🏘️
The Seattle and Eastside areas are the hottest 🔥, with things cooling off a bit as you head north or south.
Bottom line: the best homes are selling, and they're selling quickly. ⚡

For Sellers: How to Win 🏆

If you're thinking of selling, now is an opportune time. To really maximize your sale:

Pre-inspections are essential. Know what buyers will see before they see it.
Address those potential red flags. Taking care of those handyman items makes a big difference.
Want top dollar? Consider paint, carpet, and sprucing up your yard.

Not aiming for the absolute highest price and prefer to stay in your home during the process? That's okay! You can still get a great price.

For Buyers: Your Strategy for Success 🔑

Buyers, here's how to navigate this market effectively:

Pay attention to pre-inspections. See if sellers have done them.
Don't wait for the "perfect" moment. Trying to time the market rarely works.

Decoding the Market: Rates and Prices 📈

Let's clear up some common questions:

Interest rates: Expect them to remain elevated for the rest of the year, with potential slight relief later.
Home prices: We're seeing them gradually increase, and that's expected to continue.
The rate vs. price dynamic: It's a trade-off. Lower rates often mean higher prices, so don't get caught up waiting.

To illustrate, price per square foot in the greater Seattle Eastside dipped in 2022 due to rising rates, but we've been on an upward trend since. We saw a spike in early 2023, a slight softening, and now an upward trend again in 2024.

Ready to Make a Move? 📞

Whether you're considering buying, selling or investing, I'm here to provide personalized guidance. I offer free, no-pressure consultations to discuss your real estate goals and create a plan tailored to you.

Don't hesitate to call or text me at 425.434.3300 to get started!

Spring Market Snapshot

🏡 Steady & Localized: Home prices are growing at a normal pace—no crashes, no spikes! Nationally, prices rose just 0.5% month-over-month (see chart👇). But regional differences matter:

Mountain Region: +1.4% 📈
East South Central: +0.5% 📉
Source: FHFA

Year-over-year, metros like New York (+7.2%) and Boston (+6.4%) lead, while Tampa (-1.1%) lags.

Key takeaway: Local expertise wins!

Mortgage Rates

📉 Dropping Faster Than Forecasts: Rates are down 6 weeks in a row—now at 6.7% (vs. 7% in January). Why it matters:

Buying power boost: A 0.5% rate drop = ~$20k more loan eligibility (see table👇).

Forecast: Rates may stabilize near 6.5% by year-end. 🎯

💡 Affordability Hacks: Think Outside the Box

Stretch budgets with: 1️⃣ Mortgage buydowns: Pay upfront to lower rates (popular with 27% of first-time buyers). 2️⃣ ARMs: Start low, refinance later (safer post-2008 rules). Always consult a lender!

🌟 Why This Spring Matters

A record 15% of Americans plan to buy in 2025—pent-up demand is HUGE.

Prices are stable ✅ Rates are falling ✅ Creative financing exists ✅

📣 Your Move:

Schedule a call today to discuss your real estate goals! Or, forward this email to a friend or colleague who might find it helpful.

_{Data sources: CoreLogic, Freddie Mac, Case-Shiller, FHFA}