Newsletter | September 2023
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4463 Honeymoon Bay Road | Greenbank
1 Bed | 1 Bath | Luxury Studio | Build Site Ready for Main Home
2.10 Acre Lot | High Bank Waterfront | Private Beach & Tidelands
6610 Heggeness Road | Clinton
PRICE IMPROVEMENT!
3 Beds | 2.5 Bath | 2431 Sq Ft
Whidbey Island Farmhouse Paradise | Private + Quiet
Madrona Landing
6441 Humphrey Road | Clinton
PRICE IMPROVEMENT!
Unit 1 | 2 Bed | 1.75 Bath | 971 Sq Ft
Unit 2 | 2 Bed | 1.75 Bath | 1,017 Sq Ft
Unit 4 | 2 Bed | 1.75 Bath | 969 Sq Ft
4189 Campbell Road | Clinton
2 Beds | 1 Bath | 1432 Sq Ft | 2.29 Acre Lot
Large Garage/Workshop | Private Well | RV Hookup | Great Location
Check Walkways for Cracks
Clean Siding
Check Leaky Faucets
Seal Windows
Sweep Chimney
Change Air Filters
Service Yard Equipment
Courtesy of Realtor.com
Low inventory, high home prices, and mortgage rates hovering around 7% continue to make affordability a challenge for buyers—and are making many people reluctant to sell their homes and forfeit their locked-in rates. Here are some key stats.
Low Inventory-
In July house hunters had slimmer picking to choose from—40,000 fewer homes across the US.
The number of newly listed homes in July was 20.8% lower than last year.
The total number of homes available (old and new listings) was down 6.4% from last year.
Among the 50 biggest metro areas in the U.S., the inventory of homes for sale is now just half what it was in the years before the COVID-19 pandemic.
High Home Prices-
In June and July, we saw two months of small dips in median list price. However, high mortgage rates have increased the monthly cost of financing a typical home, up 17.5% compared to last year. This far outpaces wage growth (+4.7%) and inflation (+3.0%).
Mortgage Rates-
In early August, the rate for a 30-year fixed mortgage was in the 7% range.
The market is a challenge, but it's not impossible to buy or sell. If the time is right for you, give us a call anytime!
Courtesy of Realtor.com
