Seattle Real Estate Trends – 11/15/19

Something is brewing… We are seeing a lot more buyers come out of the woodwork than we normally do this time of year.   The Seattle housing market heated up a little bit this week:

This week in Seattle Real Estate

Seattle Houses: 

  Let’s talk about the most notable thing that happened this week.  We had fewer new listings (both when compared to last week and last year), we have fewer total houses for sale, but we saw an increase in the number of pending listings.  What that boils down to is that we are seeing an increase in buyer activity, but not in seller activity.  That means the market was a bit hotter this week than it has been.  If this trend continues, we could be seeing a changing landscape for Seattle real estate.

Other fun metrics:
  • 40 houses canceled their listing (compared to 54 last week).
  • 12 houses had their listings expire (compared to 35 last week).
  • 181 officially sold last week (compared to 179 last week).

Seattle Condos:

 We are seeing the same type of behavior for condos as we are for houses (which doesn’t happen that often!).  Condos also saw fewer new listings and fewer total listings, but with an increase in the number of buyers getting into contract.  It may be the continued low interest rates and some savvy buyers taking advantage of this sweet spot in the Seattle real estate market.  

Other fun metrics:
  • 13 condos canceled their listing (compared to 34 last week).
  • 11 condos had their listings expire (compared to 21 last week).
  • 36 officially sold last week (compared to 44 last week).
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