Weekly Seattle Real Estate Inventory Update – 5/17/19

Since I know y’all are just here for the video…

Watch the Video Here

 

As is to be expected, the total number of available properties continues to climb for all home types. 

 While single family homes are holding steady, with increasing absorption rates and number of pending homes, condos continue to bring on a lot more condos for sale than the market is absorbing.  With 685 total condos for sale, we are getting closer to the recent all-time high (720 condos in October 2018).  Single family is also creeping back up towards the recent high of 1,490 also back in October.  My only concern is that this is historically the time of year where listings peak in new volume and buyer demand stays flat.  If we begin to see too much new supply and not enough buyer demand to match it, we may see a swift turn in the real estate tides.

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