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– Hello Seattle!

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This is Christy Kinnaird
with Seattle Living Spaces,

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coming to you with your
Seattle real estate trends.

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It’s Friday the 13th.

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Let’s get into it.

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(upbeat music)

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Okay, so today we’re gonna
spend a little bit of time

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on the weekly data

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and then we’re gonna kinda zoom out

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because I don’t know that
I’ve ever gone over with you

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why I think this weekly
data is so important,

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and I want you to understand it

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so you know why each week
we really keep a close eye

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on the metrics.

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So, the weekly metrics,

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now remember this is
in the city of Seattle

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over the last seven days.

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We had 81 houses come on the market.

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That is more houses than we had last week,

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but fewer houses than we had last year.

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We also had 81 houses go pending.

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I checked this like three times.

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I was like, is this right?

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Is this actually right?

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And 81 houses go pending in one
week is more than last week,

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more than last year,

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more than we’ve seen in quite a long time,

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and we currently have 751
homes for sale in Seattle.

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That is 11% fewer homes
than we had just last week,

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and if you compare us
to this time last year

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we have 26% fewer homes for
sale than we did back in 2018.

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Of the runway models, the fresh listings,

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those listings that have
been actively for sale

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for 14 days or less, 15%
of of the total options

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and the crusty rusties,
the stale listings,

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the ones that have been on the
market for 91 days or longer

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which is too long, 33% of
all the homes for sale.

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Movin’ over to condos. 30
condos came on the market,

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which is fewer than last week
and fewer than last year,

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which is good.

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We have plenty of condos for sale,

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which you’re gonna see
here in a few minutes.

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We had 15 go pending.

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We had 15 go pending last week

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but we had like 28 go
pending this time last year.

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And in this exact moment in
time, in the city of Seattle,

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we have 454 condos for you to choose from,

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should you be buying.

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That is a seven percent drop
in total condos for sale

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in just one week

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and it’s 16% fewer condos than we had

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this same time last year

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and of these 454 condos, a teeny
tiny 11% of them are fresh.

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Fresh and new.

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On the market less than two
weeks, but it was 10% last week.

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Last year it was 15%
in the fresh category,

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and in the crusty rusties, the stale,

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the bag of chips that’s
been open for way too long,

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31% of the total condos,

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which is interesting

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because the crusty rusty
category shrunk this week.

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It’s fewer than last week
and fewer than last year,

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so we did have a significant
amount of condos go expired

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and cancel this week and I
can almost guarantee you,

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pretty much all of them were
in that crusty rusty category.

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Now, these are homemade graphs and charts

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and you’re not allowed to make fun of me

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because I do it all for you kids.

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Okay, I want you to look
at the last 12 months.

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Now really I want you to
look at the last 24 months

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and you need to go to the blog
at SeattleLivingSpaces.com

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to see the 24 months,

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but here’s the 12 months
and I’m gonna get close.

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Okay?

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So this, this green number here,

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these are the pending listings.

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Green shows buyer demand essentially.

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These are properties
that were active, okay.

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Here’s the red line,

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we’re properties that
are currently for sale.

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Total number of properties
currently for sale,

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and these are, hey we’re buyers

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and we’re gonna put an accepted
offer on your property.

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So it’s not sold yet, it’s pending,

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and the reason I like to
use pending and not sold

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is because sold happens 30 days later

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so we have this weird lag.

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It’s not good in the moment data, okay?

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Well, I wish you could see 2018

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and you can if you go to the blog.

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2018, the red line was
below the green line

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for the first half of the year.

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It was below the green line in
all of 2017 and all of 2016.

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But remember, middle of last year,

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everything literally flipped on a dime.

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We flipped from red line
below the green to above.

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And what does this matter?

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Well, if you’re looking
to time the market,

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if you’re looking to kind of capitalize

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on supply and demand,

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if you’re a seller, you wanna
sell when these lines are

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as close as possible together

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because this means tons of buyers,

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not tons of places for them to choose for.

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So therefore they’re less
picky, higher demand,

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multiple offers, better
selling conditions.

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You wanna be a buyer?

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Mind the gap.

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Okay, look for these places

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where the lines are furthest apart.

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And if you’re a savvy buyer,

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it looks like February is
your next opportunity, right?

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Because we had February and
then if you’re a seller,

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if you’re a seller I want
you to put your house

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on the market in March.

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If you can do it in 2020,

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especially if you can do it
in the first half of the year,

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and you wanna do it with
me, let’s do it in March.

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Okay, I’ve dedicated
pretty much the whole month

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to helping you get your
house on the market.

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If you’re a buyer, look.

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We’ve got the end of
summer, August, September,

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you’ve got a big ol’ gap.

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You get another gap here
at the end of the year.

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So, this is supply and demand for houses.

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Now the house category
includes townhouses.

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And now, whoa!

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Look at what a difference
it is for condos.

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Okay, I didn’t even have to
draw stars and yellow lines.

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It is very obviously a buyers
market right now for condos.

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This gap is long and wide, and look,

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our demand is kind of pretty level, okay.

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We haven’t seen a spike in demand,

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even though we’ve seen you know,

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price drops and a lower
median sales price.

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Buyers are still here.

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Sellers are still here.

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So if y’all wanna sell a condo,

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we need to get really,
realistic about the price

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and put our best foot forward.

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So, I have plans and strategies
for you but, condo sellers,

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get realistic.

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Condo buyers, take advantage.

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Make reasonable but fair
offers and see where they go.

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But this, this is why I
look at it week over week.

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Because although condos, you know,

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we just kinda see the same
thing for the entire year,

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houses there are definitely
better times to be buyers

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and better times to be seller.

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Now there is never a better
time to buy your house,

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than when your life tells you it’s time,

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when you finally have the down payment,

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when you’re expecting a baby,

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when your lease is about to expire, right?

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Like, I’m not here to
tell you when your time is

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to buy the market, to buy a place,

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but if you’re lookin’ to time the market,

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there are some areas

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and buyers your areas are here and here,

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and seller, your, it takes a while

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to get your house on the market, kids.

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So sellers, get prepared.

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I want you to be successful
and I’m telling you

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what you need to know.

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So there it is, homemade
graphs and charts,

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getting a little bit bossy today,

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but it is for your best interest.

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I appreciate you guys.

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Thanks for tuning in and
I will see you next week.

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Hello Seattle!

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This is Christy Kinnaird,
with Seattle Living Spaces.

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Coming with you

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(gets tongue tied)