Here is your Seattle Real Estate Market update for December 2019. Your Market In A Minute Video, everything you need to know about the real estate market in 1 minute!!
If you watch 1 video this month about real estate, make it this one!
Topics typically covered include: -Real Estate Price Trends -Housing Inventory Levels -Demand for housing -Hot appreciating areas -Real Estate Broker Trends
“𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝐒𝐮𝐫𝐩𝐫𝐢𝐬𝐞” 𝐛𝐫𝐢𝐧𝐠𝐬 “𝐩𝐥𝐞𝐧𝐭𝐲 𝐨𝐟 𝐛𝐮𝐲𝐞𝐫𝐬”; 𝐮𝐩𝐭𝐢𝐜𝐤 𝐢𝐧 𝐡𝐨𝐦𝐞 𝐬𝐚𝐥𝐞𝐬, 𝐩𝐫𝐢𝐜𝐞𝐬 ⬆️
Brokers with NWMLS reported “plenty of buyers” competing for sparse inventory during November, which ended with a 7% year-over-year increase in pending sales. The volume of mutually accepted offers rose even more (9.2%) in the tri-county Puget Sound region consisting of King, Pierce and Snohomish counties, with Snohomish leading that list with a jump of about 12%.
Median sales prices also jumped compared to both a year ago and to October. For November’s 7,216 closed sales (which were up 5.5% from a year ago), the area-wide sales price was $434,900, a gain of about 10% from the same month a year ago. Compared to October, last month’s price on sales of single family homes and condos (combined) jumped 3.5%.
King County’s median price of $612,000 led all other counties, but prices there edged up just over a percentage point compared to a year ago.