March 17th Seattle Area Housing Report

News of substantial expected mortgage interest rate increases in 2017 may motivate buyers further to purchase while rates are low. Every 1% increase in interest rates equates to about a 10% reduction in purchasing price for the same monthly payment. So if you purchased a $600,000 home at 3.5% interest it would be about the same monthly payment as a $540,000 home at 4.5% interest.

The market quieted this Saint Patrick’s Day week as most neighborhoods saw a status quo result instead of the upward momentum we had been experiencing. Fewer homes available on the market was likely the primary cause of this stagnation. 

Click here for the full report and neighborhood-by-neighborhood statistics!

Individual Reports
Seattle

West Seattle
South Seattle
Central Seattle
Queen Anne
Ballard/Greenlake
North Seattle
Downtown Seattle Condos

Eastside

South Bellevue
Mercer Island
West Bellevue
East Bellevue
East Lk Sammamish
Redmond
Kirkland
Woodinville
Renton Highlands
Downtown Bellevue Condos

 

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.