This week brought a sharp increase in the number of new listings all across Seattle
The most notable thing about this week is that we saw very similar number of new listings this week as we did this same week last year. Until now, we have been seeing tons more new listings this year when compared to last year. If you recall, last year the market started to change in June, and that was primarily driven by the sharp increase in number of available listings. It will be interesting to see if we continue to mirror the numbers of last year, or if we see even MORE inventory this year. Also of notes is that we no longer have double the total number of available properties for sale.
Houses are still seeing a good percentage of the new listings going pending, but condos continue to lag in number of pending listings. It’s also interesting to note that this week we saw a slight decline in the total number of available homes for sale. That number has been bouncing around, making me think we may be near the peak for total number of available homes for sale. It will be an interesting metric to watch over the next few months!