Real Estate Roundup YOUR PULSE on the market | 12.2019 Mortgage rates are on the rise after a long run of record lows. Over the last few weeks we’ve seen mortgage rates increase six basis points (0.06 percent).
Active listings of homes and condos are at their lowest levels since April. Last month’s selection declined more than 21 percent from where it was this time a year ago. Ten counties, mostly in the Puget Sound area, have less than a twomonth supply of inventory, while four to six months of inventory is considered to be a better-balanced market. King County’s available listings are well below the national average of four months. Our area hasn't seen numbers in the national average since February of 2015, however. This may indeed be the new normal. Last month, nine counties reported double-digit jumps in pending sales compared to this same time last year.
Going into the real estate slow season, experts are not expecting a significant influx of inventory until the spring. This means buyers will be faced with increased competition and hikes in pricing through the end of the year. A new Redfin survey shows that Bellingham is now tied with Portland, Oregon as the place people leaving Seattle are the most interested in. The median price for a home in both Bellingham and Portland is around $440,000. It seems Seattleites are now looking more north to escape expensive housing prices and the heavy traffic.
D ECplanning EMBER Personal Note Ideas (note card or email): Happy Holidays, Merry Christmas, Happy Hanukkah, Happy Kwanzaa, Season’s Greetings, Happy Birthday, Happy New Year Go Seahawks, Huskies or Cougars!! Referral sources - Thank you and update on progress Congratulations on new job, baby or wedding, etc. Note of encouragement and inspiration for personal or professional goals Warm Call Ideas: Have a reason to call that adds value for your client. Call for annual breakfast or lunch and real estate market review (CW-compiled November 2019 MLS Stats are currently available) Recent closed client: How is the home working out? Is there anything I can do? Or drop by with a Home Portfolio (order a binder or USB from CW Property Research). Thank you for your business, Congratulations, Happy Birthday, Welcome to the Neighborhood, or personal goal encouragement. Ask about plans for the holidays, football parties, the holidays and the new year.
Social Media Outreach: Highlight local businesses and spread the word about events or issues affecting your target area. Link to positive stories that emphasize what a great place it is to live. “I saw this article and thought you would enjoy it.” Use news links from CW’s News You Can Use emailed to you weekly (contact me if you’re not on my email list) General local real estate news and related topics such as mortgage rates, market updates, new listings, home tips, client testimonials, etc. DECEMBER Pop-by ideas: More Holiday Shopping, Hanukkah, Christmas, New Years Eve Sparkling Cider: “Hoping your holidays sparkle!” Gift Tag Stickers: “Stick with me for all your real estate needs!” Poinsettia: “May your holidays bloom with joy!”
It’s been a pleasure working with you this year. Don’t hesitate to give me a call if you would like to brainstorm ideas for 2019 and learn about the many tools we have available to help keep you in touch with clients.