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– Hello Seattle, this is Christy Kinnaird

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with Seattle Living Spaces

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in my ugliest Christmas sweater

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to tell you why the window
has officially closed.

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(upbeat music)

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And what the heck do I mean
by the window has closed?

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What I mean is that the
window of opportunity

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that I warned to about for six weeks,

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that window where buyers
have the advantage

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has officially closed and that’s right,

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it’s time for your Seattle
real estate trends,

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episode number eight, December 20th, 2019.

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Oh my gosh, we only have
one more trends left

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before it’s 2020.

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Okay, so let’s talk
about the closing window.

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In the past month, so from
November 20th to December 20th,

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we’ve had, now this is
seasonally appropriate,

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the total number of houses for sale

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has gone down 35 percent.

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But guess what, the number of pendings

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which is our indicator of buyer demand

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has only gone down 12 percent,

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so we are now in a situation where we have

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seasonally appropriate lessening

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of number of homes for sale,

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but we do not have a buyer
demand that is shrinking

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in the same size.

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And here’s what’s even more shocking.

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Condos, 31 percent fewer condos for sale

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than we had one month ago,

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buyer demand is up 15 percent.

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Remember when I told you
there were sweet, sweet deals

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to be had in condos?

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I’m not sure that’s so much
the case in this exact moment

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in our current environment.

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So ladies and gentlemen,
that’s the big news

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for this trends.

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Is that that beautiful
window of opportunity

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to catch a great deal
right here at the tail end

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of the holiday season?

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It’s probably evaporated.

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We will see how many eager sellers

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we have in the market coming
the first of the year,

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but man, buyers, you had your window,

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but sellers, if you’ve considered it,

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literally if I know anybody
that wants to sell a house

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in the next eight weeks I
would have them do it today,

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and I know that sounds crazy
to put your house on the market

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on December 20th, but you
darn well may have your house

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under contract before
Christmas if you did it.

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I’m just saying, I’m just saying.

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Okay, so let’s get into
the week-specific data.

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We have a total, we’re mixing up the order

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here a little bit, a total
of 645 houses for sale.

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That’s fewer houses than we had last week,

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and fewer houses that we
had the same time last year.

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We’re actually down about 30 percent,

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not only in the last 30 days,

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but even if you look at
this exact moment last year,

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we had about 30 percent more houses.

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Just a little bit shy of 1,000
houses this time last year.

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We had 65 people put
their house up for sale

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which is far fewer than the week before

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or this same time last year,

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and we had 73 houses go
pending, look at that.

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More pendings than new, hmmm.

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But again, that was fewer
pendings than the week before

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and fewer pending than
the same time last year,

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and of these 645 homes for
sale in the city of Seattle,

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how long have they been on the market?

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This might be a question.

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Okay, 14, only 14 percent of
them are fresh on the market

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for less than two weeks.

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That is far fewer than last week,

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but last year, this time of year,

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only five percent of listings were fresh.

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Crazy, I’m so glad that
2018 is long gone, okay.

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And the stale category,
those crusty rusties,

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the homes that have been
on the market for sale

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for 91 days or longer, 35
percent of the total inventory,

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an increase from last week, but last year,

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it was 60 percent crusty rusties.

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Hold your horses, 2018.

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Okay, condos, 413 total condos for sale

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which is a number I like to see.

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I think 413 puts us in a
very good, balanced market.

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Not too many, not too few,

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but we had, so 413 is fewer
condos than last week,

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fewer condos than the same time last year,

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we had 25 new condos which
is fewer than last week,

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fewer than last year,
remember, demand for condos

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has gone up while supply has gone down.

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And we had 20 condos go pending.

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We haven’t seen 20 condos
go pending in one week

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in almost a month, so we
had a big, big pending week

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for condos, certainly more
condos than last week,

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and then same time last year,

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and of these 413 condos for sale,

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a modest 10 percent of them
are fresh runway models.

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Two weeks or less on the market.

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That is a smaller
percentage than last week,

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but last year, the fresh
category was six percent.

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Woo, okay, and the stale,
the crusty rusties,

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the 91 days and over on the market

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is 21 percent of the total
inventory which is a huge drop.

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Last week it was 30 percent,
last year it was 60 percent,

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so I don’t know if these
crusty rusties have canceled,

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expired, or if they’re
the ones that are actually

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going pending, but whatever it is,

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we’re seeing a huge falloff
in the crusty rust category.

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So there it is, ladies and
gentlemen, boys and girls,

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people are still buying and selling houses

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even here during prime ugly sweater,

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pink Christmas tree season.

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