Welcome to Friday! As we approach year end, it becomes a time to gather. And with gathering, people will naturally ask you about the market. Real estate – different than so many topics – is and has always been a social topic. It effects everyone in some capacity. With that, this is a good time of year to be able to digest the #’s, understand the #’s and share the #’s. Thru your storytelling (art) and back-uped by the #’s (science) you will gain further trust with your people.
And oh, by the way – a reminder in your first response when you are asked that juicy “how is the market” question:
Don’t say: “I’m so busy” (no one really wants to hear that).
Do say: “great question, which market are you asking about?” (the conversation then meets them where they are at in actual inquiry and becomes all about them (not you).
Below are the talking points associated with our Seattle Residential and Condominium Report now available for you. As always, windermerestats is password protected: your office has the password or text me anytime, 206.227.7133
*Data current thru October 2019*
*Pages referenced below corresponds with full Seattle Report*
• Interest rates down over one point to 3.69% from 4.83% last year [see page #5].
Note: I already refinanced this year and have been in my new home less than one year. Who in your database could use this information and may not be thinking about a refi? Might as well be you to let them know!
Fun fact: A one percent change in interest rate is a 10% change in purchase price.
• Inventory is down 9% from a year ago (1,722 vs. 1,954). It is also up 212% from 2017 (810). [see page #1 + #8]
• Months Supply of Inventory is 1.8 vs. 2.2 in 2018 and 0.8 in 2017. [see page #1 + #8]
• Spring 2020 should be somewhere between spring of 2019 and 2018…
Spring 2019 = 26% of sales over list price by median of 4%
Spring 2018 = 60% of sales over list price by median of 10%
There you have it, FWL by the #’s! How will you gain trust one conversation at a time by knowing the market #’s? Let’s enjoy this time of year as we gather with our people.
As Steve Harney likes to say on repeat, bring your heart of a teacher as keeping current – really does matter…
Keeping Current Matters monthly market update is also ready for your to digest – listen, watch, read, share. All right here – 27 minutes in total. Don’t have a KCM account, text me – give mine a spin! 206.227.7133
All in, for you.
People First. Business Second.