Ready for the broken record?!?!? Not much new news to report. With inventory staying almost level (1.1 months for single family homes and 1.5 months for condos), it is still a sellers market. Buyers are still facing a tough road with multiple offer situations and homes selling for far over the list price. The condo market is starting to balance out with the number of active listings outpacing the pending and sold sales, but we are still quite a ways off from a “traditional” market.
Inventory for condos under $750,000 in Seattle over the past 14 months:
Inventory for single family homes under $750,000 in Seattle over the past 14 months:
Condos under $750,000 trends in for sale, sold and pending over the past 14 months:
Single family homes under $750,000 trends in for sale, sold and pending over the past 14 months:
To spice things up a bit, I thought I would add the trends for the last decade to give us some perspective on how the market today stacks up against recent historical data:
Yup. The number of homes for sale is at a record low.