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– Hello, Seattle, this
is Christy Kinnaird,

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with Seattle Living Spaces,

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coming to you with your Seattle
weekly real estate trends.

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(upbeat hip-hop music)

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Alright ladies and gentlemen,

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it is beginning to look a
lot like (laughs) Christmas.

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DM me for information on the pink tree.

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Let’s get right into what happened

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in Seattle real estate over the past week.

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Now keep in mind, that this past week

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included the three day weekend
following Thanksgiving.

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So, again, I was surprised

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that anybody decided
to sell or buy a house

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the week of Thanksgiving.

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I’m also quite surprised

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that the day after Thanksgiving

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and the following six days after that,

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had as much activity as they did,

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so let’s talk about it, shall we?

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We had 71 people decide

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to put their house on
the market in Seattle,

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and when I say houses,

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’cause we kinda break it
down into houses, and condos,

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’cause they do behave differently.

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But included in houses are townhouses,

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and including in condos are also co-ops,

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so just kind of an overview
for you, but 71 people,

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decided to put their house on the market.

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Okay.

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Now that is more people than, obviously,

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the week that included thanksgiving,

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but it is a lot less than
we saw this time last year.

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And a lot less than we
saw this time last year

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is a really good thing.

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Last year, we’re jumping ahead,

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to how many houses we have on the market,

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we have 843 houses on
the market this week.

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Last year, pullin’ out my cheat sheet,

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we had 1,094 houses on the market.

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So, last year,

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136 people put their house
on the market this week.

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Last year, real estate was, not stable,

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it was a little volatile,
this time last year,

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so, the fact that we have

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different year-over metrics is good.

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But maybe what’s not good

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is the number of properties
that went pending.

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So, 46 people put a house
under contract, over last week.

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Which, (exclaims) is actually even fewer

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than the week that included thanksgiving

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and fewer than this time last year.

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Last week we had 73 people,

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put houses under contract, so bizarre.

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And last year we had 59 people.

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So, it’s good that we’re
seeing fewer new listings,

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but it’s maybe not so good

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that we’re seeing fewer people

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gettin’ those houses under contract,

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we already talked about the fact

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that we have 843 houses for sale

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at this exact moment in
time in the city of Seattle.

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And of those 843 houses,
only 15% of them are new,

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new being on the market
for two weeks or less.

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15 days or less specifically.

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But that’s a chunk more
than we had last week,

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last week our new population was like 13%,

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but last year, 18% of the total
homes for sale were fresh.

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And in the stale category,

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which used to be the crusty rusty,

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those homes that’ve been on the market

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for 91 days or longer, is
29% of our total inventory,

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and it was 29% last week
and last year it was 39%.

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So.

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We have fewer new listings,
fewer total listings,

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and fewer people buying
those things, which,

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you know a sleepy real estate market

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is what is to be expected
here in December.

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I just wish that the pending numbers

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were keeping up with last year.

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That’s all.

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So if we switch over
to condos a little bit.

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Condos, okay, we’ll just get into it.

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32 condos hit the market this week,

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which is more than the 26 of last week,

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but not quite as many
as the 49 of last year.

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(exclaims) Again.

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So, I circled this,

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because pending is really
the number to note this week,

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the metric to watch if you will.

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We only had 15 condos go pending.

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(exclaims)

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Last week it was 19 which was also sad,

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last year it was 43, okay.

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So, this pending number
is not my favorite.

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It indicates that buyers are pausing,

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backing out, slowing down, whatever it is.

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So, we do have 485 condos
for sale right now.

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Which is fewer than we had last week

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and fewer than we had last year.

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Last week was 525, so, you know,

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a lot of condos, and a lot of houses,

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the listings are expiring,

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which means that you have a
set time frame on your contract

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when you list your house, and
that time has come and gone.

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And I see a lot more canceled
listings than I used to,

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and a canceled listing
is typically a seller

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who was either convinced their house

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was worth a certain price,

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or could only sell their house
if they got a certain price.

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And the market was not willing
to pay them that price.

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In very few instances

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is the market willing to overpay
for properties right now.

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There are those heartstring houses

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which I’ve talked about before

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which have this thing about
them that you can’t pin down,

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it’s not like they have
the perfect living room

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or the dreamiest kitchen,

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it’s just a house that
universally is so well-loved,

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and those houses are still
selling for a good price

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and often with multiple owners.

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Okay.

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And of these 485 condos for
sale, 10% of them are fresh.

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That is fewer than last
week and last year.

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And 35% of them are stale,

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that’s a higher percentage
of stale listings

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than we had last weekend,

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but not as many as we had last year.

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So, I don’t like to
make any wild statements

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about what’s going on in
the real estate market

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this time of year, because
December is just sleepy.

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And if it wasn’t sleepy,

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then that would be seriously noticeable.

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Or notable.

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But, so, I wish we had
more pending listings,

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but I’m not gonna panic.

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We’ll just see what happens

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when we look at this again next
week, thanks for tuning in.