December Newsletter

Hello December & Happy Holidays! December is a month filled with traditions, gatherings with loved ones, and the opportunity to reflect on the journey you have traveled for the last 12 months. What have you learned? What are your dreams for the future? Do you feel you have found your place?

MARKET STATS

MORTGAGE RATE UPDATE

October marked the peak of rates, nearly hitting 8% at 7.79% according to Freddie Mac. Fast forward to today, and we're looking at a much more favorable average conforming rate of 6.64%. That's an impressive drop of over 1%, which translates to a substantial 12% increase in your purchasing power. To put it simply, if you were shopping in the $1,000,000 range just six weeks ago, you could now comfortably explore properties up to $1,120,000 without altering your monthly payment.

Real Estate in the News

US Housing Inventory Is Building, Says Compass CEO Robert Reffkin, Compass CEO & Founder, told Dani Burger and Alix Steel that housing prices in the US need to come down to help boost the market. Reffkin also shares ideas on how to sell your home in this market on "Bloomberg Markets." US new home sales fell in October as high mortgage rates weighed on demand. Bloomberg

Word Around the Block

Snowflake Lane at Bellevue Experience the wonder of falling snow, dazzling lights, festive music, toy drummers, dancers and your favorite characters in this complimentary nightly parade. Join them on the sidewalks between Bellevue Square and Lincoln Square from NE 4th to NE 8th Streets every night at 7 p.m. Park in any of their free parking garages and choose your favorite spot on the sidewalk to see the show. Bellevue Downtown Association Sip & Savor: A Christmas Dive Bar, a Wine Walk, and a Taco and Margarita Festival 425 Magazine Local Events

Bellevue Downtown Ice Rink November 17 - January 15, 2024 The Bellevue Downtown Ice Rink presented by Symetra is the region’s largest seasonal ice skating experience, with more than 9,000 square feet of real ice. Bellevue Ice Rink

Christmas Ships December 8th - 24th A Northwest Tradition for over 70 years! Whether you are on board or watching from the shore, this parade is a lovely Northwest holiday tradition. Brightly decorated and glowing with thousands of lights, the Christmas ships parade through dozens of waterfront neighborhoods around Lake Washington and Puget Sound. Christmas Ships

New Years Eve at Seattle Center December 31st 8pm Seattle Center is the place to be for our free New Year’s Eve Celebration offers entertainment and festivities across our grounds. Seattle Center

Tips & Tricks The Best Outdoor Christmas Lights to Make Your House Merry and Bright After you've decked your halls and your tree, it's time to take the holiday glow outside. We've rounded up the best sparkle and shine for your home's exterior. HGTV 25 Dated Design Trends and Solutions As each year passes, new home design trends rise and fall. Here are 25 dated trends that should be left in the past and their solutions that will leave your home with a timeless look. HGTV

FOR SALE SEATTLE 4227 South Dawson Street 3 BD 3 BA 1,500 SF $899,950 Overlake 16422 NE 43rd Court LAND $1,100,000

SNOQUALMIE 7702 442nd Place SE 4 BD 4 BA 2,740 SF $1,280,000 RENTON 18847 SE Lake Youngs Rd 3 BD 2 BA 2,290 SF $778,650

Graham 23012 165th Avenue East 3 BD 4 BA 4,426 SF $829,800 SHORELINE 18020 8th Avenue NW LAND $1,300,000

PENDING

Mount Baker 1815 28th Avenue South 2 BD 2 BA 890 SF $549,950 Newcastle 12001 Southeast 87th Way 5 BD 4 BA 4,273 SF $2,062,950

Northeast Bellevue 905 165th Avenue NE 5 BD 5 BA 4,740 SF $2,995,000 Mill Creek East 17728 28th Avenue SE 3 BD 3 BA 1,680 SF $875,000

Rocky Point 2012 Rocky Point Rd NW 3 BD 2 BA 2,102 SF $499,800 North Creek District 19420 121st PL NE, Unit A 4 BD 4 BA 1,972 SF $964,990

Monroe 13382 199th Ave SE 4 BD 3 BA 2,982 SF $979,995 BAINBRIDGE ISLAND 11211 Parkhill PL NE 3 BD 2 BA 1,780 SF $436,000

🎉 SOLD IN NOVEMBER 🎉

SEATTLE 2120 NW 98th Street 5 BD 4 BA 4,110 SF $1,600,000 Totem Lake 12759 NE 132nd Street 2 BD 2 BA 952 SF $620,000

ISSAQUAH 14401 260th Ave SE 5 BD 4 BA 3,660 SF $880,000 Edmonds 416 Daley Street, Unit C 2 BD 3 BA 1,094 SF $795,000

SNOHOMISH 8730 206th St SE, Unit 24 2 BD 2 BA 1,242 SF $180,000 Sammamish 23290 NE 17th Street 4 BD 3 BA 2,740 SF $1,607,500

Sammamish 1840 211th Court NE 4 BD 3 BA 1,520 SF $1,025,000 West Woodland 6049 5th Avenue NW 3 BD 3 BA 1,270 SF $967,500

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See You Next Month!

Laura Lynn Managing Broker M: 425.647.0550 laura.lynn@compass.com

David Spalding Managing Broker M: 360.359.6112 david.spalding@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.

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