This week started the day after Thanksgiving, and spanned the long Holiday weekend. Knowing that, it is no surprise that we had a whole lot of not-much. The most notable thing going has been happening for over a month. We have a lot fewer houses for sale in Seattle (and condos for sale) than we did back in early December 2018. Back then we HAD 30% MORE houses and 14% more condos for sale than we do now. The lack of properties to purchase is what is helping keep the market in overall healthy shape.
This week in Seattle Real Estate:
As we always do, let’s compare houses (that includes townhouses) against condos (that includes co-ops):
With 71 houses coming on the market this week, new listings were up when compared with the 65 houses that hit the market last week. When we compare it to 2018, we had almost HALF as many new listings this year. Even with the increase in new houses for sale, we still saw the total number of available homes for sale drop from 89 last week to 843 this week. Last year this time we had 1,094 total houses for sale!
32 new Seattle condos hit the market this week. Last week we only had 26 condos come up for sale, and last year we had 49! The Seattle condo market currently has 485 condos for sale, a decline from 525 condos last week and 551 condos last year.