Another strong showing in July. Days on Market did increase slightly, but this is not uncommon during the summer and especially when our weather is so wonderful. Buyers and sellers alike are off having fun in the sun!
I have attached a chart that I find very interesting regarding interest rates. I think this is
probably most buyer's number one question when entering the market: should I wait? The
chart that is attached is based on a current mortgage rate of 4%. If this increases by only 1% to 5% look at what the monthly payments will increase to. A compelling reason to sell and buy now if that perfect home comes on the market.
NEW LISTINGS
Price Quantity DOM
$750,000 - $799,999 1
$950,000 - $999,999 1
$1,000,000 - $1,249,999 2 1
$1,750,000 - $1,999,999 1
$2,000,000+ 1
Total: 6
Average Price: $1,981,833
PENDING INSPECTION
Price Quantity DOM
$1,000,000 - $1,249,999 1 12
$2,000,000+ 1 61
Average Price $2,212,500
Average DOM = 37
PENDING
Price Quantity DOM
$950,000 - $999,999 1 7
$1,250,000 - $1,499,999 1 42
Total 2
Average Price: $1,114,500
Average DOM = 25
SOLD
Price Quantity DOM
$1,000,000 - $1,249,999 1 10
$1,250,000 - $1,499,999 1 10
$2,000,000+ 1 7
Total 2
Average sales price $1,568,333
Average DOM = 9
Kim Dales can be reached at 206.235.777 or kodales@Windermere.com.
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