We are now fully in the fall market. After a post-Labor Day uptick, we saw another burst of activity this past week. Let’s take a closer look at the numbers.

Mortgage Rates

The 30-year fixed today is at 6.37%. While that isn’t the lowest we’ve seen this year—it briefly dropped to 6.28% last week—it’s still holding steady without major volatility despite government uncertainty. FHA and VA loans are even more favorable at 6.05% and 6.06%. For VA buyers, this market is especially strong, as fewer competing offers make it easier to get under contract while maximizing your VA benefits.

Seattle Condo Market

• New listings: 185 (down 4 from last week)

• Pending sales: 165 (up 2)

• Closed sales: 150 (up 47)

Although new listings slightly declined, pending and sold homes rose, showing buyers are still active in this segment.

Seattle Residential Market (Single-Family + Townhomes)

• New listings: 510 (down 47)

• Pending sales: 575 (down 4)

• Closed sales: 440 (up 90)

Here, pending sales are outpacing new listings, a sign of stronger buyer demand. We’ve also seen clients who didn’t expect to purchase this year finally finding homes they love.

What to Expect This Fall

Activity typically holds through the end of October, before slowing in November and December due to the holidays. However, if mortgage rates dip again, we could see buyers stay active into the winter months.

Bottom Line

For buyers, this is a unique opportunity to negotiate in a market with steady inventory but less competition than spring. For sellers, lower rates could help bring more buyers into the market.

And as always, if you’re ready to map out your strategy, text or email us to schedule a one-on-one consultation.