September Monthly Newsletter Email NW

September 2023 Real Estate Market Update

Prices on home sales during August rose 2.5% from a year ago, marking the first year-over-year (YOY) increase since January, according to a new report from Northwest Multiple

Listing Service. Throughout the Puget Sound region, other key metrics of August activity, including new and active listings, pending sales, and closed sales, the YOY comparisons showed declines.

Despite the cooling housing market, Seattle-area households need to make nearly $142,000 a year to afford a typical first home in the region, an increase of 4% from last year, and well above King County’s median household income of about $106,000. This is because home prices haven’t fallen enough to offset higher mortgage rates. The average rate on a 30-year mortgage has been over 7% since mid-June, up from 6% a year earlier and 3% in 2021, according to Freddie Mac.

Real Estate in the News

Seattle’s historic Smith Tower is for sale

One of Seattle’s oldest skyscrapers is looking for a new owner. “Priced at a historically attractive basis, Smith Tower represents a unique opportunity to own a prominent piece of Seattle’s rich and storied history… and its promising future.”

Seattle Times

Word Around the Block

10 Sensational Bagel Shops Around the Seattle Area

There’s no hole in the center of the Seattle bagel scene. Seattle already had a burgeoning bagel scene before the pandemic, but thanks to renewed efforts by some very craft-focused chefs, coupled with the long-awaited brick-and-mortar arrivals of heavily hyped pop-ups, the region now offers a bounty of bagel options worthy of consideration by even the most ardent Northeastern purist.

Eater Seattle

Local Events

Washington State Fair

September 1-24
Puyallup

Final few days! Animals, rides, rodeo, food, and entertainment at Washington State Fair, the largest, oldest, and most popular fair in the state.
Washington State Fair

Fremont Oktoberfest

September 22- 24
Fremont

Seattle largest Beer Festival. Fremont Oktoberfest offers 100 Craft Beers, German Beers, Cider, Food Vendors, and Bands. 

Fremont Oktoberfest

Tips & Tricks

20 Fall Porch Ideas That Effortlessly Elevate Your Stoop

Roll out the yellow-leafed carpet for autumn. Elle Decor has rounded up inspiring fall porch ideas, these decorating tips will instantly elevate your outdoor space.

ElleDecor

How to Support Maui Fire Victims from Seattle

As wildfires have devastated Maui this month, local residents have opened their wallets to donate funds for victims, and local businesses have raised dollars and awareness. Here you can find where to donate, and how to support our local businesses that are pitching in.

Seattle Met

Featured Listings

8633 36th Avenue Southwest

2 BD   1 BA   1403 SF   $719,950

Amy Laughter

Broker
M: 315.563.1383
amy.laughter@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.