Street Talk 3/9 Recap: Market Shifts, Mortgage Rates & a Hot New Listing

Street Talk 3/9 Recap: Market Shifts, Mortgage Rates & a Hot New Listing

If you’re keeping an eye on the real estate market, a lot is happening right now. On the latest episode of Street Talk, host Chris Davies sat down with CC Crispeno of RE/MAX and Robert Bonner of Bonner Designs to discuss the latest trends—where mortgage rates are headed, how tariffs are affecting home prices, and what buyers and sellers need to know in today’s shifting market.

Mortgage Rates: A Welcome Shift for Buyers

For the first time in months, mortgage rates have dipped to a three-month low, now hovering between 6-7%. While that number might have seemed shocking a year ago, it’s quickly becoming the norm. The latest jobs report showed slower-than-expected job growth and a slight uptick in unemployment (now at 4.1%), which could lead to further rate softening.

Buyers are taking notice. Mortgage applications are on the rise, and lenders are seeing more pre-approvals. But even with this increase in buyer activity, the market hasn’t fully caught up—yet. CC shared that he’s finally starting to see the momentum build, and Robert has noticed an uptick in home improvement projects.

Tariffs & Construction Costs: What Buyers & Sellers Should Know

If you plan to build or remodel, be prepared for potential cost increases. With a third of home construction materials—like lumber from Canada and sheetrock/gypsum from Mexico and China—impacted by tariffs, the price of building a home could rise by $10,000 or more, particularly in the Pacific Northwest.

The Housing Market: More Inventory, But a Delicate Balance

We’re seeing an increase in homes for sale compared to last year, but new listings are slightly down. Pending home sales remain steady, and home prices are holding or seeing moderate growth (0-5%), depending on the county.

The big exception? The Eastside is booming—home values have jumped 14%, with median prices now at $1.7M. Some areas are still seeing multiple offers, while others are sitting longer. Pricing strategy is more critical than ever.

Inventory levels are creeping up. Across the region, we’ve moved from 1.8 months of supply to 2.4 months. While that’s still considered low (a balanced market is closer to 4 months), it’s a shift that could give buyers more negotiating power. One major factor keeping inventory tight is that many homeowners are still locked into ultra-low mortgage rates and are hesitant to sell.

Hot Listing: A Rare Find in Woodinville

This bright and inviting 2-bedroom, 1.75-bath condo in the sought-after Le Chardonnay community offers the best of both worlds—peaceful surroundings and an unbeatable location.

🏡 942 sq. ft. of beautifully updated living space

•Remodeled kitchen with stainless steel appliances & tile backsplash

•Cozy fireplace & sunlit open floor plan

•Updated bathrooms & new flooring in both bedrooms

•Resurfaced deck, perfect for relaxing & enjoying the view

•Dedicated carport parking + no rental cap.

Beyond the home itself, the location is unbeatable. You’ll be just blocks from downtown Woodinville, with easy access to shops, dining, and the famous wine district. Plus, enjoy top-notch community amenities, including a pool, hot tub, gym, and clubhouse.

📞 Don’t miss this one! Call CC at (206) 261-2068 for more details.