Seattle Real Estate Market In A Minute Update | January 2020

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Here is your Seattle Real Estate Market update for January 2020.  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

๐„๐š๐ ๐ž๐ซ ๐‡๐จ๐ฆ๐ž ๐๐ฎ๐ฒ๐ž๐ซ๐ฌ ๐–๐ž๐ซ๐ž ๐๐ฅ๐ž๐ง๐ญ๐ข๐Ÿ๐ฎ๐ฅ ๐ข๐ง ๐ƒ๐ž๐œ๐ž๐ฆ๐›๐ž๐ซ ๐๐ฎ๐ญ ๐‚๐ก๐จ๐ข๐œ๐ž๐ฌ ๐–๐ž๐ซ๐ž ๐Œ๐ž๐š๐ ๐ž๐ซ

Newly-released figures from Northwest MLS show inventory at the end of December was down 31% from the same month a year ago, with only 8,469 active listings compared to the year-ago total of 12,275. 

The figures include single-family homes and condominiums across the 23 counties in the MLS service area.

Last month marked the sixth straight month of declining inventory, noted James Young, director of the Washington Center for Real Estate Research. 

MLS figures show inventory peaked in June when the database had 16,680 active listings; about twice as many as December.

Inventory for single-family homes and condos (combined) was down by more than 30% in seven counties: Thurston (-54%), Pierce (-38.9%), King (-38.8%), Snohomish (-35.6%), Mason (-32%), Kitsap (-30.6%), and Skagit (-30.5%).  System-wide there is only about 1.2 months of supply.

The inventory of single-family homes (excluding condos) is especially tight in several counties, notably Thurston (-54%), King (-41.4%), Pierce (-40%), Snohomish (-36.1%), and Kitsap (-34.3%).

Sean Reynolds

Sean Reynolds

The Owner and Designated Managing Broker of Summit Properties NW and Reynolds & Kline Appraisal.

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