Weekly Seattle Real Estate Inventory Update – 9/20/19

Seattle real estate is behaving in a REALLY bizarre way right now!   This week we saw fewer new house listings, and more new condo listings.  We also had a nice increase in the number of houses and condos go pending.

Watch the Video Here.

When we compare what is happening this year compared to last year, we are seeing a lot of similarities, with two notable differences.  We are seeing less new listings this year, which a huge change from the past 18 months.  Up until 3 weeks ago, we had drastically more new listings in 2019 than we did in 2018.  But that flipped a few weeks ago, and now we are seeing slightly fewer.

   What is most different is the age of our inventory.  Last year, over 60% of the total available properties for sale had been on the market for less than 2 weeks.  Now we have almost flipped that, with 62% of condos and 55% of houses having been on the market for MORE than 2 weeks.

 

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