Click bait headlines report these trends as if they are unprecedented - These graphs show trends similar to patterns we have seen happen nationwide and through several decades.

Data from 2017-2019/2021-2023 in Seattle, Mercer Island, Kirkand, Bellevue, Medina, Clyde Hill from WA-520 to I90

New Listings most frequent March-October

Most homes to choose from in October
Month Supply is the time it takes for the current active listings to deplete at the current sales pace. Very low in spring and summer despite having the most new listings, indicating higher buyer activity

Sale Price/Original Listing Price is highest in May and lowest in January but is a 2-6 week lagging indicator based on a successful sale and doesn’t include the original prices of prior unsuccessful listings (a home may have taken several listings over many months to sell).

Average time on market lowest in May, highest in December and doesn’t include the time a listing has spent on market in a prior unsuccessful listing (a home may have taken several listings over many months to sell).

New loan applications peak mid to late January each year.
Yellow markers indicate the highest point of applications in each year (January); Blue marker is the last reported data for that year (End of December)
National average time a buyer closes after their most recent preapproval is 50-days with a 45 day transaction. It is common in Seattle Greater to search for 3-9 months and transact in 15-28 days.

Average Fixed 30 Year Mortgage Rates

Brian’s Client Q&A:
Q: If fed rates don’t affect mortgage rates, what does?
A: 10Y Treasury bond, Inflation/CPI/Jobs Reports, World Events.
https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics
https://www.epi.org/indicators/unemployment/
https://www.bls.gov/cpi/

Historical Trends

Average Fixed 30 Year Mortgage Rates

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