1
00:00:00,840 –> 00:00:01,990
– Hello, Seattle.

2
00:00:01,990 –> 00:00:03,750
This is Christy Kinnaird, Living Spaces,

3
00:00:03,750 –> 00:00:06,700
coming to you with your
Seattle real estate trends.

4
00:00:06,700 –> 00:00:10,530
Boy, (sighs) summarizing it all.

5
00:00:10,530 –> 00:00:12,930
Look like I’m breathing, like
(sighs), summarized it all.

6
00:00:12,930 –> 00:00:16,840
I was at, I went and saw
nine houses this morning,

7
00:00:16,840 –> 00:00:20,400
and I have not seen so
many people at a house,

8
00:00:20,400 –> 00:00:22,110
an open house ’cause a lot
of the houses that I went

9
00:00:22,110 –> 00:00:23,860
to see were during open house times.

10
00:00:23,860 –> 00:00:26,130
And I do that on purpose
so I can kind of see

11
00:00:26,130 –> 00:00:28,010
how many buyers are out there.

12
00:00:28,010 –> 00:00:32,090
And I saw so many cards
in every single house

13
00:00:32,090 –> 00:00:32,950
that I went to.

14
00:00:32,950 –> 00:00:37,370
So basically this week in real
estate is acting like 2017.

15
00:00:37,370 –> 00:00:39,650
In 2017, the real estate
market was very hot,

16
00:00:39,650 –> 00:00:41,750
and it favored the sellers.

17
00:00:41,750 –> 00:00:42,770
So let’s get into it.

18
00:00:42,770 –> 00:00:45,840
Nerdy details for the past seven days.

19
00:00:45,840 –> 00:00:50,240
Over the past seven days, we
had 149 houses hit the market,

20
00:00:50,240 –> 00:00:53,960
and we had 128 houses go pending.

21
00:00:53,960 –> 00:00:56,150
And at this exact moment in
time, in the city of Seattle

22
00:00:56,150 –> 00:01:00,840
we have 540 houses for
sale, which is not enough.

23
00:01:00,840 –> 00:01:02,580
We need at least 900 right now,

24
00:01:02,580 –> 00:01:05,380
so we are down about 40%
in the number of houses

25
00:01:05,380 –> 00:01:07,010
that we need to have available for sale.

26
00:01:07,010 –> 00:01:10,570
So let’s talk about
these 149, or excuse me

27
00:01:10,570 –> 00:01:12,723
the 128 homes that went pending.

28
00:01:13,780 –> 00:01:17,780
Of those, 75% of them were on the market

29
00:01:17,780 –> 00:01:20,530
for eight days or less.

30
00:01:20,530 –> 00:01:23,760
75% of all the homes that
went pending last week

31
00:01:23,760 –> 00:01:26,540
were on the market for eight days or less.

32
00:01:26,540 –> 00:01:27,873
That is remarkable.

33
00:01:28,715 –> 00:01:33,220
And so here we are, we have
our total number of homes

34
00:01:33,220 –> 00:01:35,480
for sale, 75% of them…

35
00:01:35,480 –> 00:01:36,880
Can I tear this in a straight line?

36
00:01:36,880 –> 00:01:38,950
Oh boy, almost.

37
00:01:38,950 –> 00:01:42,450
So 75% of all the homes
for sale went pending

38
00:01:42,450 –> 00:01:43,760
in eight days or fewer.

39
00:01:43,760 –> 00:01:48,500
And of these 75%, so of
those homes that went pending

40
00:01:48,500 –> 00:01:53,500
in eight days or less,
59% of them had an offer

41
00:01:53,950 –> 00:01:55,490
or view date.

42
00:01:55,490 –> 00:01:58,720
Four weeks ago, the percentage
of offer or view dates

43
00:01:58,720 –> 00:02:00,450
was less than 10%.

44
00:02:00,450 –> 00:02:02,450
Now I know I’m always
bringing you new numbers.

45
00:02:02,450 –> 00:02:04,380
But I’m trying to keep it relevant.

46
00:02:04,380 –> 00:02:06,160
I’m trying to give you
information that’s gonna

47
00:02:06,160 –> 00:02:08,200
help you understand
what’s going on this week

48
00:02:08,200 –> 00:02:10,100
in Seattle real estate because we know

49
00:02:10,940 –> 00:02:12,690
if we were only to do this once a month,

50
00:02:12,690 –> 00:02:15,846
stuff changes so fast we
need to do it every week.

51
00:02:15,846 –> 00:02:18,860
I am like bossy lady today.

52
00:02:18,860 –> 00:02:20,430
Okay, we’re gonna rein it in.

53
00:02:20,430 –> 00:02:22,626
We’re gonna talk about
condos, which are different

54
00:02:22,626 –> 00:02:25,140
but still good.

55
00:02:25,140 –> 00:02:27,600
We had 59 condos come on the market.

56
00:02:27,600 –> 00:02:31,040
We had 44 of those condos just go pending,

57
00:02:31,040 –> 00:02:32,200
which is huge.

58
00:02:32,200 –> 00:02:33,950
These numbers haven’t
been this close together

59
00:02:33,950 –> 00:02:35,080
in a long time.

60
00:02:35,080 –> 00:02:37,390
And at this exact moment in
time in the city of Seattle,

61
00:02:37,390 –> 00:02:39,650
we only have 301 condos for sale.

62
00:02:39,650 –> 00:02:42,570
We had twice as many condos
for sale this time last year.

63
00:02:42,570 –> 00:02:43,490
That’s right.

64
00:02:43,490 –> 00:02:47,193
And of these 44 condos that went pending,

65
00:02:48,640 –> 00:02:53,280
57% of them were on the
market eight days or less.

66
00:02:53,280 –> 00:02:56,650
Over half the condos that
went pending last week

67
00:02:56,650 –> 00:02:58,920
had a market time of eight days or less?

68
00:02:58,920 –> 00:03:01,590
You know that our average
market time for condos

69
00:03:01,590 –> 00:03:03,200
is 42 days, right?

70
00:03:03,200 –> 00:03:05,150
What in the heck is happening?

71
00:03:05,150 –> 00:03:08,850
And of this 57%, so of the
condos that went pending

72
00:03:08,850 –> 00:03:11,780
that had market times
of eight days or less,

73
00:03:11,780 –> 00:03:15,740
almost half, 48% of them
had an offer or view date.

74
00:03:15,740 –> 00:03:16,710
Are you kidding me?

75
00:03:16,710 –> 00:03:19,100
Offer or view date for condos?

76
00:03:19,100 –> 00:03:22,510
In November you couldn’t
give away a condo,

77
00:03:22,510 –> 00:03:24,220
and now we’re seeing
multiple offer situations.

78
00:03:24,220 –> 00:03:26,080
So there it is kids.

79
00:03:26,080 –> 00:03:29,830
The numbers show we still
have more new listings

80
00:03:29,830 –> 00:03:31,270
than pending listings, which is good

81
00:03:31,270 –> 00:03:33,840
because when the market
was super frenzied,

82
00:03:33,840 –> 00:03:35,326
that was not happening.

83
00:03:35,326 –> 00:03:40,326
But we’re seeing properties
go in eight days or less,

84
00:03:41,450 –> 00:03:42,890
at least half of them.

85
00:03:42,890 –> 00:03:46,180
And of those properties,
now the majority of them

86
00:03:46,180 –> 00:03:47,150
have offer or view dates.

87
00:03:47,150 –> 00:03:52,150
So if you are buying, let’s
buckle down and talk about

88
00:03:52,560 –> 00:03:53,850
what we need to do if we get into

89
00:03:53,850 –> 00:03:55,670
a multiple offer situation.

90
00:03:55,670 –> 00:03:57,920
And if you’re thinking about
selling, congratulations.

91
00:03:57,920 –> 00:04:00,969
Market is in your favor mostly.

92
00:04:00,969 –> 00:04:03,720
Seattle real estate is also very specific

93
00:04:03,720 –> 00:04:07,260
with the home style, the price
point, and the neighborhood.

94
00:04:07,260 –> 00:04:12,260
So if you have a $700,000
house in Ballard, hot.

95
00:04:12,510 –> 00:04:17,070
Okay you have a $700,000 condo
in White Center, not hot.

96
00:04:17,070 –> 00:04:18,870
So just totally different markets,

97
00:04:18,870 –> 00:04:21,450
and again the luxury market
which is like 1.5 and above,

98
00:04:21,450 –> 00:04:22,620
it moves at its own pace.

99
00:04:22,620 –> 00:04:25,608
But we don’t really talk
about that too often here

100
00:04:25,608 –> 00:04:26,660
on my videos.

101
00:04:26,660 –> 00:04:27,493
Anyway, there it is.

102
00:04:27,493 –> 00:04:28,690
I’m long winded.

103
00:04:28,690 –> 00:04:31,483
I appreciate you, and I
will see you next week.