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– Hello, Seattle.

2
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This is Christy Kinnaird
of Seattle Living Spaces

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coming to you with your
Seattle real estate trends

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for the week ending November 29th, 2019.

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(upbeat hip-hop music)

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Well, ladies and
gentlemen, boys and girls,

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we are using a smaller board this week

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because, frankly, it was
the week of Thanksgiving

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and not a whole lot happened.

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We’ll go over the highlights. (laughing)

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What is interesting is
that we had 65 houses

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come on the market.

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65 people thought that
the week of Thanksgiving

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was a great time to bring
their house on the market.

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That is obviously fewer
than we had last week

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or fewer than we had
the same time last year.

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More surprisingly, 73 people

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got under contract on a house this week.

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73 buyers out there in the bitter cold,

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the week of Thanksgiving, buying houses.

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That says something.

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That is fewer than last week,

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but more than the same time last year.

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And at this exact moment in time,

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in the city of Seattle, we
have 899 homes for sale,

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fewer than last week,
fewer than last year,

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fewer than we’ve seen in a long time.

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Below 900 is significant.

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And if we continue this buyer demand,

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we may get ourselves back into

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a little bit of a bidding war.

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Ooh, my goodness; okay.

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And only 13% of the houses for sale

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have been on the market
for less than two weeks.

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Makes sense because, common…

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Hate to say common sense,
but common sense indicates

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maybe the week of Thanksgiving

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or the week before Thanksgiving’s

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not a great time to put
your house on the market,

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which would make sense.

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And also, I bet you a
lot of these 73 buyers

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were scooping up those
fresh properties, right?

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Seize the day!

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Less buyers, more properties.

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Well, not even more properties,
but less competition,

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good new listings; people who
put their house on the market

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this time of year are
definitely motivated to sell.

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So, these 73 people

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probably got a pretty
good deal. (laughing)

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And of course, the stale listings,

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the crusty-rusties, are
29% of our inventory,

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which is a higher percentage
than last week, but far less.

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Last year, we had like 40% of our houses

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had been on the market
for 91 days or longer.

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Pretty crazy.

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Moving over to condos,

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we had 26 condos come
on the market this week.

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Ugh!

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You know, I’m trying
something new with the paper

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and I’m not loving it.

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Wrinkle city; okay.

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But you know what, we’re in this together,

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so I’ll go back to the
whiteboard next time.

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Okay.

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26 condos came on the market this week,

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fewer than last week, fewer
than last year, which is good.

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(exhaling) We’ve got a glut of condos,

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so we need more buyers and less sellers.

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That is my demur opinion

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about the whole condo market in Seattle.

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We had–

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What’s funny, 19!

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19 buyers putting condos under contract!

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That is more than last week

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and exactly the same
as this time last year.

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So, interesting that the
week of Thanksgiving,

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the buyers were out, the buyers were out.

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And I think they’re going
to continue to be out.

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We’ll see.

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You know how I am with predictions,

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half right, half wrong,
(laughing) so we’ll see.

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And at this exact moment in time,

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we have 525 condos for sale,
which is fewer than last week

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and also fewer than the same
time last year, which is good.

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This time of year, I’d like
to see us at 450 condos.

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So, out of these 525 condos,
only 11% of them are brand new.

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(sighing) Again, we had
26 new listings this week.

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I think we had 35 last
week, so that’s not a lot,

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and I think some of these pendings, again,

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maybe are scooping up the newer listings

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’cause, boy, 32% stale, crusty-rusties,

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been on the market too long.

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That’s higher than last week,

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but surprisingly not as much as last year.

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So, last year, we were
really, really suffering

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from an aging inventory.

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So, week of Thanksgiving,
just super interesting,

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super interesting that
buyers are still out there.

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I love it.

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And again, I said this maybe last week,

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maybe the week before,
but I think we might see

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an unusual spike in buyer
behavior for this time of year.

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So, the good news is that
we’re gonna do this every week,

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so we’ll just kind of see what happens.

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