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– Hello Seattle.

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This is Christy Kinnaird
from Seattle Living Spaces

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coming to you with your
Seattle real estate trends,

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week ending April 17th, 2020.

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Again, I’d like to acknowledge

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that we are in the middle
of a global pandemic.

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If you don’t care about real
estate videos right now,

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I don’t blame you.

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Please go watch something
that makes you happy

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and all I want is for Seattle
to be healthy and well

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and know that I love you.

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But for those of you who
are here for the data,

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let’s talk about it shall we?

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See a look at how many
houses in the city of Seattle

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over the last seven
days, we had 172 people

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put their house on the market this week.

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That’s a huge jump.

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Last week it was 110.

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So now last year we had 264 people

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put their houses on the
market but you know.

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Again, so we had 172 this week

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and 264 the same week last year.

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It is shocking to me that
our transactional volume

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which is the number of people

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putting their houses up for sale

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and the number of people
putting an offer on properties

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is not drastically reduced.

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I anticipated that we would see

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only a quarter of the activity

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that we saw this same time last year.

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Well, depending on the
houses, condos, we’re seeing

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between 55% and 70% of the activity

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that we saw last year which is wild.

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Seattle really is a robust,
strong freakin’ town

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and people are still out their
buying and selling houses,

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and that is just what the
numbers are showing us

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so way to go Seattle,
you’re one tough town.

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So, 172 houses came on the market

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and 79 people put offers on houses.

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That is up from the 68 people last week

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but it’s certainly a
change from the 151 people

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that purchased properties
this same time last year.

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Now if you like all of this data,

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I have this, I have these,

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I have extra information at the blog,

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seattlelivingspaces.com,

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the link is below in the description,

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I would love for you to go check it out

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and get extra nerdy with me.

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Okay, at this exact moment in time

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in the city of Seattle we
have 771 homes for sale.

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Last week we had 710 homes

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and last year, 1,086 houses for sale.

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Last year we had more inventory
than we had seen in 10 years

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so it is not surprising to
me that we have few homes

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and condos for sale right
now than we did last year.

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And, now let’s talk about,
I’m a scared seller,

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this market does not work for me.

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Let’s talk about those metrics.

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Those metrics are canceled
and people who take their home

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temporarily off the market.

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So this week we had 16 houses cancel,

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and last week we had 20,

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and the week before that is was like 30,

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so we’re definitely
seeing a downward trend

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of people canceling their listings.

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And temporary off the market,

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last week was our biggest
temporary off the market week

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with 57 houses going
temporarily off the market.

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This week, only six,

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so I think that the people

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who actively have their homes for sale

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are hunkered down and
ready for this market.

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Anecdotally, two weeks in a row now,

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I have had clients fall
in love with houses,

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want to make an offer, house
has an offer review date,

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and then all of a sudden the
house goes off the market

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before the offer review date.

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So there are still buyers out there

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who are acting like it’s 2016

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and putting in a really aggressive,

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massively over list price, early offer so,

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not that I’m encouraging people

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to just start looking for houses for fun,

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unless you have an immediate need to move,

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I don’t think this is a great time

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to just be looking at houses.

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I’ve actually chosen with my clients,

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there are only two of them,

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who have an immediate need to move,

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and those are the two that
I am showing houses to

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on a very limited basis.

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All of my other new clients,
we’re doing Zoom meetings,

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FaceTime meetings, and
we’re getting all prepared

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so that once we kind
of get the green light

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then we can start, in earnest,
our house hunting process.

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Switching over to condos, 56.

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56 new condos on the market this week.

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Last week was only 36.

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Last year, 100.

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100 condos on the market last year, oh!

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And other good news is pendings.

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We had 21 people put offers
in on condos this week.

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Last week it was only 16.

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Last year it was 54, but again,

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it’s amazing to me that
it’s not like two pendings.

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That’s kind of what I expected, okay.

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

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we have 412 condos for you to choose from.

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Last week was 406.

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Last year, 609.

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All right, and the canceled?

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We had eight canceled this
week versus seven last week

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so not much change.

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We only had three condos

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go temporarily off the market this week,

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where last week it was 12.

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So again, buyers are settled in.

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There it is kids, I think I need to

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make you an additional video about

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what’s going on with mortgages right now,

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but I can’t make you sit through

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a seven or eight minute YouTube
video, I just can’t do it.

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So thank you for tuning in.

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Wash your hands, text,
call, FaceTime people.

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Tell them that you love them.

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Let me know if you have
any specific questions

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and if not then I’ll just
see you again next week.

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(upbeat music)