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– Hello Seattle, this is Christy Kinnaird
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at Seattle Living Spaces,
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coming to you with your weekly
real estate trends report.
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As you all know the governor has issued
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the stay home, stay safe order,
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which basically means all
non-essential businesses
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need to turn off until two weeks
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or other notice.
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And guess what?
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Real estate is a nonessential business,
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and you know what?
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I agree with that.
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I will go on my moral
rant here at the end,
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but you guys are here for the data
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so I’m gonna give you the data.
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Single family houses in the city
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of Seattle over the last week,
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we have 146 people
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who think this was a great week
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to put their house on the market, 146.
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To give you some perspective,
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if you took the number of houses
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that went on the market
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the week of Thanksgiving
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and the week of Christmas
last year and combined them,
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it would still be half as many
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as we had come on this one week
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during a global pandemic
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and statewide shutdown.
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So it was 146 this week,
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229 last week,
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and last year was 242.
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Now during this pandemic,
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my normal office, I can’t go to
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so I’m doing it from the jeep
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until we can resume normal operations,
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which means if you want the pretty graphs
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and charts and the exact data,
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go to seattlelivingspaces.com,
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check out the blog,
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and it’s all right there for you.
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But for the next two weeks at least
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we’re doing it this way.
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We did have 135 people
get houses under contract,
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which makes a little bit more sense to me.
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I actually had an active buyer
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and we were scrambling last minute
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trying to find the right place for him
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before we weren’t allowed to
go out and roam the cabin.
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So that I understand a little bit more.
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It was 135 this week,
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152 last week and 140 last year.
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So even in a global pandemic
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the Seattle real estate market
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is almost as robust as it was last year,
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which is crazy.
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And at this exact moment in time,
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in the city of Seattle,
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we have 626 houses for sale.
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Last week it was 657.
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Last year 959.
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We’re running at about 65%.
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The total number of available properties
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for sale that we had
this same time last year,
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and it’s kind of been that way
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since the beginning of 2020.
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Now here’s a fun metric
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that I don’t always talk about.
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We are gonna layer in,
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at least during this pandemic,
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canceled and temporary
off the market listings.
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So a canceled listing is a
seller who had their house
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up for sale and decided
for whatever reason
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to pull it off before the end
of their listing contract.
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And you know that happens,
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I’d say I see two to five of those a week
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in the city of Seattle.
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This week we had 30.
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Last week we had 19.
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And I haven’t been, like I look at this,
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but it hasn’t been in my spreadsheet.
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So now it’s in my spreadsheet,
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but as real estate environments change,
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the metrics that are kind
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of more interesting or
more important change,
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so, you know, I can’t do it all kids,
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but I’m giving it my best shot.
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And then we have temporary off the market,
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which means that you go off the market
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for a minimum of seven
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and a maximum of 45 days.
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And typically people use this for
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like if there was a family emergency,
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or the week of Christmas,
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or the week of Thanksgiving.
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Or if they wanna do some improvements
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and or repairs on the property
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and they don’t want people
seeing it mid project.
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And, again, normally I see
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like three to five of those a week.
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We have 44, 44 houses go temporary
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off the market this week
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versus 13 last week,
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versus four the week before.
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And that’s a great idea.
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I’m going get into it in a minute
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why I think that now is not the best time
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to have your house on the market,
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but we’ll get into that
when we talk about condos.
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So, speaking of condos,
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wow, 73 condos came on
the market this week
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versus 97 last week and 96 last year.
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But only 22 condos went pending.
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So apparently condo buyers are not nearly
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as eager to be out dancing
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in the middle of a pandemic
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as house buyers are, right?
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So 22 this week, 26
last week, 45 last year
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were the number of condos
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that people got under contract.
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At this exact moment in time
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in the city of Seattle
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we have 385 condos for sale.
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Last week it was 382.
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Last year 545.
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So, again, last year
we’re seeing 30 to 35%
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more total properties for sale,
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and it has been that way all of 2020.
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And for the canceled,
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canceled condos, I see like one, two,
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maybe three a week.
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It was 15 this week.
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And temporary off market,
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which I almost never see for condos,
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was also 15 this week.
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So speaking of condos,
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the Seattle Real Estate
office was in a condo,
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a sweet, sweet condo
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in the heart of downtown Seattle
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with 16-foot ceilings, exposed brick.
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It’s seriously like a once in a lifetime,
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super sexy amazing condo,
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and I was all scheduled to put
it on the market on Tuesday,
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and guess what I didn’t do?
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I didn’t put it on the market,
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and here’s why.
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I care more about a
safe and healthy Seattle
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than I care about a
robust real estate market
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in this exact moment.
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We can’t have a robust real estate market
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without a robust Seattle.
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So I consider, because
I’m a real estate agent,
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I thought it would be
professionally negligent
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to bring on this once in a lifetime condo
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because people might be inclined
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to break the governor’s rules
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and get out and see it.
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So I am going to wait to bring
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this once in a lifetime
condo up on the market
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until the governor has lifted
the stay at home orders
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because I’m keeping my butt at home,
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or my butt in the car,
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in the jeep at my home
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until we’re suggested to go back out
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because I care about Seattle.
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And this is bigger than me
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and my silly little condo,
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or even our real estate market.
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We’re not, real estate
market hasn’t closed,
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but we really should be pausing.
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So that is kind of my soapbox,
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and I will get down off of it.
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But we have a more,
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we have a more,
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the real estate market this week
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was more robust than
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the weeks of fourth of July,
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thanksgiving and Christmas combined,
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which I think is pretty crazy.
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And I’m hoping that next week,
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once we’ve had a full week
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to settle into this stay at home order,
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I’m gonna have a lot fewer numbers
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to report to you,
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but either way, cheers
ladies and gentleman.
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Thanks for tuning in.
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And I will see you next week.
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(upbeat music)