Team Skally | Market Update

Frost arrived on our roof this morning signaling a seasonal change that usually indicates a cooling of the housing market. Despite the weather, there are positive tailwinds keeping the housing market quite warm. Inventory remains scarce with just 1.5 months of housing supply, down 38% from last year at this time. With low inventory and demand remaining high in the Seattle area, homes continue appreciating, evidenced by the median sold price being up 5% over last year at $1.42M. 

Many have asked us about interest rates. Well, we just received incredible news that has the bulls rallying on Wall Street. The Core Price Index, a key measure of inflation, just hit a two-year low. History consistently demonstrates interest rates follow inflation so look for lower rates in the near future. And when those rates drop prices will appreciate even further. How high is high? We’re still searching for that Crystal Ball. In the meantime, know there is a winning strategy here as a buyer to purchase now and refinance later. And for those considering selling, we encourage you to beat the competition to the market. There is an advantage to being the “only game in town”.

We welcome the opportunity to get to know you and discuss how our Team Skally Advantage will ensure you win in Real Estate. In the meantime, from our family to you and yours, we wish you a blessed and joyful Thanksgiving! 

Cheers!
Matt & Christina  

Matt & Christina are Team Skally, top real estate agents in the Seattle Metro with expertise in luxury homes on the Eastside including Bellevue, Newcastle, Mercer Island, Renton and Issaquah. Their client testimonials say it all - they deliver exceptional service and record-breaking results. Recognized as top agents on social media by Property Sparks, Diamond Award winners for best client service, winners of 2023 Nextdoor Neighborhood Faves and regularly featured in online and print publications including Greet - Newcastle & Newport Hills Magazine. In addition to serving clients, Matt and Christina love family time with their two boys and two Goldendoodles as well as volunteering in the community.