Weekly Seattle Real Estate Inventory Update – 7/20/18

Good news Seattle! It looks like the tides have officially turned.

Watch the video here.

Single Family:

Condos:

In conclusion:

We now have 5 weeks of data showing a large increase in the number of available homes.  If we were seeing a huge increase in the number of new listings, but NOT an increase in the total number of available homes for sale,then I would be signing a different tune.  We have two new market behavior shifts:

  1. Lots more homes and condos coming on the market for sale
  2. Buyers not snatching up all the new inventory within a week of it coming on the market

These two combined behaviors indicate that we are now in the early stages of a stabilizing market.  And guess what?!?!?  That’s actually good news.  The crazy “steroid ” market of the last few years was not sustainable, and frankly not that healthy of a market.  We still have an incredibly high median sales price.   This newly found increased number of homes and condos for sale should help us all settle into a much more sustainable and historically common market.

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