[October 2017] – Seattle Real Estate Market in a Minute Update

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Hi, I’m Sean Reynolds, the owner of Summit Properties Northwest and Reynolds & Kline Appraisal and this is your market in a minute video. Everything you need to know about the Puget Sound real estate market for the month of October 2017. And we keep talking about everything going up and for October that was true also. Close sales are up, pending sales are up, inventory is up, and so what buyers are looking at is a super active market as quick as the homes come on, they go off. And so as we’re entering kind of the fourth quarter of the fiscal year, some of the things that people are thinking about and are considering is: there’s a lack of inventory, we’ve got a possible uptick in interest rates and we’ve also got some tax reform. We might have a cap on the interest deduction on people’s mortgages and that could influence things as well.

So I think, uh, end of this year, it’s a good opportunity for sellers who want to get their home on the market and get it sold. And also for buyers who aren’t competing with quite as many buyers as you’ll see next spring. But next spring I think you’re going to see a repeat of last year and also something you’re going to see is some of the outer lying areas are going to feel even more pressure than they have in the past, as people move out from Seattle and Bellevue and Redmond to more affordable markets.

Once again, I’m Sean Reynolds from Summit Properties Northwest and Reynolds and Kline Appraisal. I appreciate you taking the time to watch this video. Happy Thanksgiving, bye.

Sean Reynolds

Sean Reynolds

The Owner and Designated Managing Broker of Summit Properties NW and Reynolds & Kline Appraisal.

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