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
𝐄𝐚𝐠𝐞𝐫 𝐇𝐨𝐦𝐞 𝐁𝐮𝐲𝐞𝐫𝐬 𝐖𝐞𝐫𝐞 𝐏𝐥𝐞𝐧𝐭𝐢𝐟𝐮𝐥 𝐢𝐧 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫 𝐁𝐮𝐭 𝐂𝐡𝐨𝐢𝐜𝐞𝐬 𝐖𝐞𝐫𝐞 𝐌𝐞𝐚𝐠𝐞𝐫
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%).