Seattle Real Estate Market In A Minute Update | November 2019

Sparse supply spurring more competition among motivated home buyers in Western Washington

Active listings of homes and condos totaled 14,379, the lowest level since April. Compared to a year ago, last month’s selection declined more than 21% and was down 10% from September, according to the new report from Northwest MLS. The year-over-year and month-to-month volume of new listings also declined last month. On a positive note, MLS figures show system-wide gains in October’s pending sales (up nearly 5.6%), closed sales (up 4.1%) and prices (up nearly 7.7%) compared to a year ago.

MLS figures for its 23-county service area show 1.73 months of supply overall. Ten counties, mostly in the Puget Sound area, have less than two months of supply of single family homes and condominiums, whereas 4-to-6 months is a level industry-watchers use as a gauge of a balanced market.

Northwest MLS records show the last time the supply of homes and condos exceeded three months was February 2015, when there was just over 3.5 months of supply.

Compared to the same month a year ago, October’s supply of active listings declined by double-digits in 18 of the 23 counties in the NWMLS report. Thurston County had the sharpest decline (down 35.5%), followed by Pierce (down 28.7%) and Kitsap (down nearly 27%).

Despite the slim selection, demand was strong as the volume of pending sales (9,517) outgained the number of new listings added during October (8,394). Nine counties reported double-digit jumps in pending sales compared to 12 months ago.

#SeattleRealEstate #HomeTours #MarketUpdate

✅ If You Are A Real Estate Broker Looking To Increase Your Commission Split and Eliminate Your Monthly Expenses Consider Summit Properties NW. Summit Offers a Simple 80/20 Commission Split With No Other Associated Fees & A Low ,000 Annual Cap!

💼 Click Here To Apply

🏡 Summit Properties NW, LLC.
Office: (425) 451-3342
Email: [email protected]

👫 Follow Summit’s Socials!

🎙 Only in Seattle Podcast
Google Podcast:

🎬 Video Filmed & Edited by Nicky Smit of Summit Properties NW

👍 Please Like, Share and Subscribe For More News & Real Estate Insights.

More info on Seattle Real Estate Market In A Minute Update | November 2019

  • Market News – MarketWatch

    We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions.

  • Dallas Commercial Real Estate News

    Pacesetter Homes, A QUALICO Company is opening eight new communities across the Dallas/Fort Worth… Author, speaker, and productivity expert Maura Nevel Thomas’ most recent book, EVERYONE WANTS ...

  • Seattle Commercial Real Estate News

    invites you to celebrate the 2023… 2023 Seattle CIO ORBIE® Awards Join SEA Airport and the Puget Sound Business Journal for an update on everything happening… May 29, 2023, 11:07 pm PDT ...

  • Real Estate

    A couple felt obligated to take the first apartment they saw in a crazy rental market. Then they wanted to move again, but cooler heads prevailed. The church on West 14th Street, the first in ...

  • Newport County Real Estate Market: A look at the 25 homes that sold last week

    Newport County’s real estate market thrived last week with the successful sale of 25 homes. This surge in activity reflects a housing market with a new pool of buyers for […] ...

  • How to Invest in Real Estate: Buying vs. Not Buying Property

    Investing in real estate can mean dozens of different things. Here's what to know about how to invest while buying property and how to invest without buying property. Investments are inherently ...

  • King County assessed property values decline as housing market cools

    such as Normandy Park and South Seattle, according to the assessor’s office. The county sets values based on a property’s value in January. The commercial real estate market is more of a mixed ...

  • How To Find A Real Estate Agent

    particularly in a hot housing market. But there are still plenty of time-consuming steps, and costs, required to sell a home that an experienced real estate agent manages all the time. A good ...

  • Seattle rent rises 21% in two years

    Despite softening demand in the Seattle real estate market and a brief period of rent declines, it's still much more costly to rent here than it was earlier in the pandemic. Driving the news ...

Leave a Comment