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– Hello Seattle.

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This is Christy Kinnaird coming to you

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with your Seattle weekly
real estate trends.

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We’re on week six of
the stay at home order,

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and it feels weird to be
just like business as usual,

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so, again, if you don’t care
about real estate data, go.

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I have been down the rabbit
hole of Tik Tok this week,

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so that’s kind of what I’ve been up to,

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wonder what you guys have been up to,

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go ahead and let me know in the comments

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what you find yourself binging
on in these strange times,

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but if you do want to talk about the data

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we will not hesitate any longer,

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so let’s taco ’bout it shall we?

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Single family houses in the city

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of Seattle over the last seven days.

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Alright, we had 169 people
put their house on the market

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this week, versus 172 last week,

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but look, last year 564.

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So fun fact, we’re running
at about 67% of the number

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of new listings that we
did this time last year,

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but let’s put that in perspective.

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That’s not even half.

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The number of people that are putting

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their homes on the market has
not even been cut in half,

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it’s only been cut by
a third in the middle

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of a global pandemic.

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What is happening Seattle
real estate market?

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Okay, and then the number of people

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that put homes under contract,

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this week was 115!

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Last week was 79.

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Home buyers are not fussing around.

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I think we’ve all kind of come
to the gloomy understanding

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that we’re not going to flip
a switch back to normal,

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that we’re going to kind
of ease into some sort

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of new shade of normal,

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so the folks that maybe were waiting

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for things to get better
are realizing this is kind

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of how it’s going to be for a while,

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and they’re like forget
it, I gots to buy my house,

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and I’m gonna do it now,
and 115 people did that

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with single family houses in the city

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of Seattle over the last week.

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And at this time last year it was 151.

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So we are seeing even
stronger pending numbers,

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year over year, than we even
are new listing numbers.

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Imagine if we had the same
number of new listings,

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I think we would have
even more people buying

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than we did the same time last year,

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which is bananas, B-A-N-A-N-A-S.

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Okay, and at this exact moment in time,

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in the city of Seattle we
have 781 houses for sale,

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last week it was 771, last year 1086.

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So we see, like, you know, 10 more houses

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for sale this week than
we had last week, which,

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considering 169 people put
their house on the market,

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this week is pretty crazy, 10 more.

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Okay, and then let’s
talk about the metrics

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that show seller concern,

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and those are canceled, as
in nope, I’m not doin’ this.

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Canceled this week was 22
houses last week was 16 houses,

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normal week is like 4 or 5 houses.

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So I’d say our cancel numbers
are surprisingly low, as well,

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and then the temporary off the market,

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which is more than a week
and less than three months,

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I finally did my research,
it was just four houses

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this week, it was six houses last week,

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typical week is like two or three houses,

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so we’re almost, kind
of, at a typical week.

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But what’s not typical
is the offer review date.

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So, pre COVID, offer review
date was, like, at least half

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of the new listings

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and like 90% of the homes

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with offer review dates were going pending

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on their offer review date.

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The offer review date fell
off a cliff three weeks ago,

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it made a strong comeback,
last week it was, like,

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starting to taper,

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so last week we had 55
homes put their houses up

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on the market with an offer review date.

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Only 23 of them got an
offer, so less than half,

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and this week it’s only 38
houses with an offer review date,

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so I think that that is kind of, you know,

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not something that is super popular

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at this exact moment in time.

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Alright, let’s–

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(exclaims)

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Going wild here in the Jeep,

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I can not wait to get
my normal office back.

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Okay, alright.

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But this way I feel like I’m at an office,

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because at least I’m
outside of my house, right,

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so thank you for allowing
me an opportunity

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to just come sit in my car in
the driveway, if nothing else.

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Alright, condos!

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Different story.

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63 condos hit the market
this week, 56 last week,

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and last year 100, so we’re running at 63%

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of what we were last year.

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Here’s work, it’s a little different.

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And I feel this pain specifically,

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because guess who’s trying to
sell their condo right now,

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me, okay?

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22 condos went pending this
week, last week it was 21,

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so one more than last
week, I guess that’s good,

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but last year it was 54,

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so housing market is
running at two thirds plus

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of it’s same time last
year, but, you know,

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condo market is running at, like,

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40 to 60% of what it was
last year, which is not good.

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But you know what is good is
at this exact moment in time,

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in the city of Seattle, we
have 431 condos for sale.

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Last week it was 412, so
that’s not a huge increase,

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and last year it was 609,

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and, then again, canceled
and temporary off the market,

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canceled this week was four,
last week it was eight,

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and temporarily off the
market this week was four,

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last week it was three.

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So, again, I don’t think the condo sellers

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are pulling off the
market in massive numbers.

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Oh, and offer review
dates, we had six condos

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with an offer review date last week

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and two of them got an
offer, so there’s that.

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And then notes from the field.

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We’re kind of in our new normal, I think,

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things will continue to loosen,
but not expand wide open,

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so now we’re working towards
how do we help people who need

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to buy and sell real
estate successfully do so,

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in this environment,

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and it’s kind of fun to get creative,

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it’s fun to use all these tech tools

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that some of my older or more, you know,

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set in their ways peers
who are not at all open to.

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It’s kind of exciting.

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So, because our volume is at
65% of what it normally is,

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that means that we still have hundreds

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of people every week putting
their houses on the market

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and putting homes under contract,

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and we are getting to, as
realtors, figure out how

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to do that in a safe, appropriate,

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and, kind of, tech supported
way, and it’s been really fun.

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So that is the super
nerdy data for you, folks,

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the punch line is we’re
running at about two thirds

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of our normal pace, which
is unbelievable considering

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we’re in a pandemic.

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I appreciate you, I promise
to get nerdy again next week,

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stay safe, stay healthy,
and wash your hands.

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(hip hop music)