The BIG NEWS this week is that both houses and condos saw a decline of the total number of properties available for sale in Seattle, and the existing supply of homes and condos for sale continues to age.
I do like that we have fewer homes and condos for sale this week. And since we have had a full year now in this “new” real estate market, I decided to layer in one more set of data points for us to track. This week we introduce the number of properties that have been canceled (taken off the market by the sellers), have expired (the term of the listing contract has come to an end), or sold. Up until about a year ago, almost no homes were cancelled or expired, and we saw 48 homes cancel and 16 homes expire last week alone!
And I promise to bring back the weekly video next week!