July Monthly Newsletter Email NW

June 2023 Real Estate Market Update

The more frenetic activity of a typical summer real estate market has hit our area, with buyers out in droves looking for homes. What they’ve found, however, is high competition and scant listings.

The region’s low housing inventory has been a constraint that has resulted in fewer closed sales than we’ve seen in recent summer markets. Last month saw the median home price rise to $830k, more than May, but still down year-over-year. Changing interest rates are causing some buyers to pause, while sellers want to keep their current rates.

According to real estate experts, housing supply and interest rates are the defining obstacles for buyers at the moment. In King County, active inventory is only 32% of the 10-year average, and new listings are off 34% year-to-date. This is driving prices up, while interest rates put a damper on what buyers can afford. 

While recent demand has been strong, experts expect that demand will taper off as interest rates hang around the 7% mark. I can help you find the best path forward in this market. 

Real Estate in the News

 Toward the 
Housing Recovery

Large parts of the residential real-estate sector had been in a recession for the past 8 quarters. But a sharp rise in new home sales and single-family housing starts (by 12% and 19%, respectively) in May marked the start of what market veteran's say is a recovery. Fueled mostly by lots of pent-up demand for housing and a significant shortage of inventory, it may be enough to end the housing recession even if mortgage interest rates remain elevated.

CNBC.com

Local Events

Ballard SeafoodFest

July 14-16, 2023 
Ballard, WA
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Join me this year at the SeafoodFest! 
I'll be volunteering in the Beer Garden on Saturday evening and would love to see you during this community celebration of Ballard’s historic connection to the fishing industry and the neighborhood’s Nordic roots. And of course, there is lots seafood!

Ballard SeafoodFest

Bite of Seattle 

July 21-23
Seattle
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Savor the delicious culinary world of Seattle as you tour over 200 of the region’s finest restaurants and specialty food curators. Then wash it down with craft beer and cider samples, plus over 50 live music performances and so much more!

Bite of Seattle

Client Testimonials

View Amy's Sales History

"We've trusted Amy over the last 5 years with multiple real estate transactions (both on the buying & selling side). The key word here is trust: we trust that she is giving us honest, sound advice on topics both simple and complex; we trust she is representing us to any other sellers, buyers, agents, in good faith; and we trust she has our goals in mind and acts in that way. And she delivers, time after time." 
- Eric

"What sets Amy apart is her genuine commitment to long-term client satisfaction. She took the time to understand my needs and goals, presenting tailored options that perfectly aligned with my vision. I never felt pressured or rushed. Even when delivering tough news, she remained transparent and honest, always ready with alternative solutions and a clear path forward." 
- Parisa

Recommend Amy

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.