Seattle Real Estate Trends – Episode 30 – 8/30/20

We are still seeing a lot of new listings this week, but we may be on the decline officially for 2020.

This is the second week in a row that we have had fewer new listings for houses.  Typically, we start to see fewer new listings starting late July, but since we had a delayed peak season (thanks COVID!), we are doing everything later this year.  We also saw fewer condos come on the market this week when compared to last week.  But I don’t think the peak has hit yet for condos. 

 When it comes to the offer review date (one way to measure how competitive the market is), we are seeing the prevalence of the offer review date drop just a bit.  Houses are seeing about 40% of new listings come on the market with an offer review date, and of those homes about 2/3 of them go pending on the offer review date.   Condos are a different story.  only 13% of condos hit the market with an offer review date, and of those that do have the offer review date, only 1/3 of them go pending on the date.

Watch the Video HERE.

*PENDING* Lucky #206

That 206 Life!

Do you and your cats need a quiet, well-lit and affordable condo?   If so, look no further!

Welcome to this right-sized condo tucked on a sleepy and tree-lined street.

Fresh paint!  New luxury vinyl flooring!   Open kitchen/living room, pocket doors on the over-sized bedroom and lots of storage (so much storage AND you have your own storage unit).  Private patio perfect for coffee sipping, people watching or grilling on the BBQ. 

Great access to WHY 99, I-5 and transit.   Park your car in the designated parking spot in the garage and walk to up-and-coming Stone Way, the Burke-Gilman trail or Lake Union.

 

Watch the Video Here
 

 

Virtual Open House Schedule:

Take the 3D tour HERE.

The Fine Print:

* 3890 Whitman Ave N. #206 Seattle WA 98103
* Listed at $335,000 
* NWMLS #1652582
* 1 bedrooms, 1 bathrooms
* 568 square feet
* HOA Dues = $374
* 2020 annual taxes $3,417

Seattle Real Estate Trends – Episode 29 – 8/22/2020

The Big News is that we continue to see more total homes and condos for sale:

The market is still absorbing about 2/3 of all the new house listing each week, with our number of total houses for sale creeping up by about 15 houses per week, even though we are seeing about 200 new listing each week,

  Condos continue to add inventory to an already over saturated market.   Last week had 150 new condos come on the market, and only 57 go pending.  We are adding roughly 40 total condos each week to the total number of condos for sale.  We have not had this many condos for sale since I started tracking this weekly data 5 years ago:

Houses are still selling like hot-cakes, and condos continue to be challenging to sell.  The homes that officially sold and closed in the past two weeks have sold, on average, for 105% of list price and condos are selling for an average of 98% of list price.  Quite the drastic difference!

Watch the video HERE



Seattle Real Estate Trends – Episode 27 – 8/8/2020

This week, we zoom out a bit to see how real estate has behaved since the last week of March (when the impact of COVID started):

 

Let’s look at the number of condos for sale and pending since the last week of March:

The number of condos has almost doubled, but the demand (the number of pending condos) has stayed relatively flat.

Houses:

The number of available houses for sale is up 25% (compared to 100% for condos), and the demand is rising at about an equal pace.

Watch the Video for More Details

Just The Facts:

The total number of available homes continues to rise, with demand for both houses and condos declining this week.