Weekly Seattle Real Estate Inventory Update – 7/19/19

Did you miss me?!?!?!

For the next few weeks, we are going to old school.  Back to our roots.  The good old days.   The days before I did videos or had fancy charts.  Back when I was a relentless blogger.   

So let’s get into the inventory update, shall we???

Single Family Houses:

1,514

   At this exact moment, we have 1,514 homes for sale.  That is fewer that the 1,530 homes that we had for sale at the end of June.  Sadly, we don’t have any data from the first two weeks of July.  So we can’t really do the week-over-week comparison this time, but we can slide right back into that next week.  We have been above 1,500 since 6/21, and it looks like we are going to continue to hover around that number.

   We had 286 homes hit the market this week, and 105 homes go pending. 105 homes pending is the second lowest number for any week since February.  Low pending numbers could just be a sign of the traditional seasonal slowdown, since we saw pending numbers decline in a similar pattern last year.

How long have these homes been on the market?  GREAT QUESTION!!!!

0-14 days = 28.3%

15-30 days = 18.2%

31-60 days = 25.2%

61+ days = 28.3%

  We have a dead tie between the Crusty Rusties and the Runway Models.  

Condos:

729

That’s a lot of condos!  But is fewer condos than we saw in early June.   We had 106 new listings come on the market (we have been bouncing between 95-115 per week), and we had 43 condos go pending (a nice tick up from the 33-34 average we had over the month of June).

  Condos are holding really steady.  We aren’t seeing as much of a slump (or change in behavior) with condos as we are seeing with houses.

How long have those 729 condos been on the market???

0-14 days = 22.6%

15-30 days = 14.4%

31-60 days = 24%

61+ days = 38.9%

The Crusty Rusties clearly have the upper hand.   And our 31-60 day category is the second largest, leading me to believe that the condo inventory continues to age and that the Crusty Rusties will continue to grow as the dominant “age group”.

  


Monthly Seattle Real Estate Recap – June 2019

Prices soften, and inventory hits a record high level.

Watch the Video Here.

 

June was a month for the books.   In good news, we had modest price increases for condos month-over-month (although still down from 2018), and we saw both condos and homes sell in the fewest days we have seen all year.   In less robust news, homes are down in price both compared to April and 2018, and our months supply of inventory continues to creep up.

The most notable thing that happened in June is that we hit a record high amount of inventory.  The total number of condos and homes for sale is at a level we haven’t seen since December 2011.   With us heading into the “summer slowdown”, if we continue to see increasing inventory, we may continue to see further softening of prices.


Weekly Seattle Real Estate Inventory Update – 6/28/19

Steady As She Goes…

  Fewer new listings this week for all housing types!  That combined with steady pending numbers for condos and an increase in pending numbers for houses, we see slightly fewer total homes and condos for sale this week.   This is GOOD!  With an average absorption rate of 33% for condos and 42% for houses, we seem to be in a nicely balanced market.  Buyers are continuing to put in offers on houses, especially single family houses under $650,000 or well-priced homes in the upper price ranges.   Condos continue to be flat, with the existing inventory continuing to accumulate market time.  Nothing is less inspiring to the pool of buyers than a bunch of condos that have been on the market “forever”.

Watch the Video Here.


Pending! The Peaceful Porch – Dreamy West Seattle Craftsman

From the Front Porch to the Chicken Coop

This Sweet West Seattle Craftsman Inspires Life at a Different Pace

Watch the Video Here

4031 39th Ave SW Seattle, WA 98122

MLS# 1479733   Listed at $600,000

  Birds chirp and the breeze brushes your check.  The lemonade is cold and the view never gets old.  The Peaceful Porch has an undeniable grace and appeal about her.
  Blocks from all the best West Seattle has to offer, this home feels like a retreat from the bustle of the city and a gateway to an easier way of life.
  From the big windows to the original hardwood floors, the charm of this house winks at you from every angle.   If you can pull yourself away from your seat on the front porch, you can easily get lost in the tranquility of the urban garden.  Raised beds overflow with dozens of varieties of your favorite foods.  Fresh lettuce and herbs and strawberries and tomatoes, it’s easy to create a delicious meal with the bounty from your own garden.   
  The comedic clucks draw you to the chicken coop.  These sweet birds deliver both fresh eggs and laughable antics, bringing a distinct joy and life to this already vibrant garden and outdoor space.
   When the weather turns cool or damp, the large living room invites you back inside as you warm up by the double sided fireplace.   Weekend projects are a breeze in the large, unfinished basement complete with ample power, lighting and work spaces.
  For a peaceful life in a home that’s close to it all but just far enough away, this sweet house is the perfect place to build a lifetime of happy memories.

Home Features:

– Stainless Steel Appliances
– Corian counter-tops
– Gas Fireplace
– Detached garage with power – perfect for electric vehicle
– New electrical and plumbing – both fully permitted!
– 95% high efficiency boiler
– 200 AMP electrical panel
– Deluxe chicken coop 
– Urban edible garden with raised garden beds and drip irrigation system
– Original windows open top-down OR bottom-up
– Heated towel rack in bathroom
– Brazilian walnut front stairs and porch
– Radiant heated floors

 

Why I LOVED Living Here:

– The front porch is perfect, rain or shine. Watching the sun rise over the mountains every morning while sitting on the porch drinking coffee is like nutrition for the soul. (Only advanced practitioners of awe should apply. )

– The large amount of space in the basement and attic have allowed us many kinds of craft/woodworking/hobby spaces

–  The neighborhood is so quiet. Sometimes I forget I’m in the city. Especially when working in the garden or enjoying an evening on the porch.

–  Warm floors from the radiant floor heat is such a luxury in winter. The towel warmer in the bathroom keeps towels soft and dry and so nice after a shower.

– The Urban Edible garden.

– The garden beds grow Everything we plant in them state-fair huge.  The beds are three feet high so you don’t have to bend over to garden tend to the veggies. The gardens smells of jasmine and honeysuckle flowers in the summer. The chickens are really funny. 

About the Neighborhood:

The Fine Print:

– 3 bedrooms, 1 bathroom
– 1,090 square feet (finished)
– 1,920 square feet total
– 5,750 square foot lot
– 2019 annual taxes $5,212
– Detached garage
 

Weekly Seattle Real Estate Inventory Update – 6/21/19

We Have a BIG First This Week

Watch the Video HERE.

  For the first time since I started keeping track years ago, we saw fewer new listings this week than we did during this same week last year.  If you recall what was happening this time last year, we were seeing a record number of new listings hitting the market week after week after week.  

  To be fair, this week last year was the largest number of new listings we had recorded in one week since 2012.  It was a banner week, and pretty much the week that started the rapid decline in number of pending and sold homes.  The week before and the week after saw 307 and 247 respectively, so maybe this week is just a historically popular week for new home listings.

  Condos stayed flat.  Fewer new listings, about the same number of pending listings and a slight dip in the absorption rate.  What is note worthy is that we continue to see an increase in the number of available condos for sale, while the condos that we do have for sale continue to have more and more time on market.  60% of all the condos on the market have been for sale for over 30 days.  That is too many Crusty Rusties!