Seattle Real Estate Market Update | January 2024

In this Seattle Real Estate Market Update, I share a client story, Seattle housing market stats from December 2023, and current applications for buyers and sellers.
Thinking about buying or selling a home in the Seattle area soon? Please don't hesitate to reach out! People like you regularly contact me about their real estate goals after discovering me on CZcams. I'd love to bring value to your home buying or selling experience too!
Here are a few reviews from people who discovered me on CZcams:
Steven & Kayla - • Seattle Real Estate Ag...
Kit and Taryn - • Seattle Real Estate Ag...
Jaimin & Riddhi - • Seattle Real Estate Ag...
Contact Zach:
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mcdonaldresiden...
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Other links you might be interested in:
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All Seattle Real Estate Market Updates
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All King County Real Estate Market Updates
• King County Real Estat...

[@harcourtsauctions]

Great update Zach! Looking forward to the big things in 2024!

[@McDonaldResidential]

Me too!

[@goryburk]

Currently the market isn't good for buyers or sellers. At the end of July 2023 when interest rates were peaking home prices dropped. I think they are going to go back up again Low supply has always been an issue here.. I bought over 30 years ago. Wages will go up and so will prices on everything else too. Buy now and refinance when the rates go down.

[@realxiao]

Why more buyers activity in 2024? The rate went up a lot, and price stay the same. It's more expensive for buyers. I would expect less buy activity instead of more. Could you explain your reasoning rather than keep insisting it would be harder for buyers?

[@killersdeat0]

Last year, the rates went up but prices didn't fall in Seattle, which means that buyers are still able to afford houses in Seattle. Feds announced 3 interest rate cuts, when rates fall, the competition goes up. It's just pure supply and demand.

[@realxiao]

Everyone knows it's supply and demand... I say demand currently is down because rate went up. You assume rates will down which would drive buyer activity... It feels like you are saying I am wrong, but you are just proving my point... Use logic please

[@killersdeat0]

@@realxiao You literally said "The rate went up a lot, and price stay the same."
Demand is keeping up with prices or prices would fall.
What makes you think that when the rates fall down that demand wouldn't rise?

[@realxiao]

It's not demand that keeps up with price. It's always demand and supply. Both were down a lot, and we literally had the lowest volume in 20 years. If there are more supplies, price will crash. I just don't see more demand unless rate going down or price going down.

[@bannertraveller5879]

@@realxiao There is a lot of demand it's just that some people still can't afford it. Most logical advice is buy now and refi when rates drop. Prices are going to continue to go up albeit slowly