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Seattle Real Estate News March 2020: February sales brisk in low inventory market

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Seattle Real Estate News March 2020
The Personal Seattle Real Estate News

Seattle Real Estate News March 2020: King County inventory down 40.7% from a year ago.

seattle real estate news march

KIRKLAND, Washington (March 5, 2020) – “We’re entering prime time for the real estate market, and more listings are on the way,” stated industry veteran J. Lennox Scott, as he reviewed the latest statistical report from Northwest Multiple Listing Service. MLS figures for February show year-over-year (YOY) gains in new listings, pending sales, closed sales, and prices. Scott, the chairman and CEO of John L. Scott Real Estate, expects a bump-up in inventory during March and April, but said, “We remain virtually sold out in many areas in the more affordable and mid-price ranges.”

Northwest MLS representatives who commented on last month’s activity reported little impact so far from the coronavirus (COVID-19) threat.

[Read more…] about Seattle Real Estate News March 2020: February sales brisk in low inventory market

Seattle Real Estate News February 2020: Home buyers in Western Washington “hit the ground running” in January

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Seattle Real Estate News February 2020
The Personal Seattle Real Estate News

Seattle Real Estate News February 2020: Home buyers have to deal with record-low inventory.

seattle real estate news january

KIRKLAND, Washington (February 6, 2020) – “All indicators point to a vigorous spring market,” suggested broker Dean Rebhuhn when reviewing just-released statistics from Northwest Multiple Listing Service. The report covering 23 counties shows pending sales outgained new listings, record-low inventory that’s down 33% from a year ago, and double-digit price increases.

Matthew Gardner, chief economist at Windermere Real Estate (the largest regional real estate company in the Western U.S.), noted home buyers did not take very much time off during the holidays. “They hit the ground running as soon as the new year kicked off.” (Windermere has 140 offices in the NWMLS market area.)

[Read more…] about Seattle Real Estate News February 2020: Home buyers in Western Washington “hit the ground running” in January

Real Estate Technology – disruptive or constructive?

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Why I’m Not Sold on Real Estate Technology

— A friend invited me to evaluate a real estate technology product that would “transform the experience of buying, selling, leasing or renting a home.” That’s a tall order.

The press release stated:

Real Estate Technology“The Internet along with market forces of cost reduction and individual control, has led to fundamental changes in many industries. However, the real estate industry is largely unchanged. The market is cluttered with fragmented offerings which don’t provide a way to conveniently connect buyers with sellers and renters with landlords, or simplify the complexity of a transaction.”

Let’s review this statement through the lens of the consumer, home buyer and seller: [Read more…] about Real Estate Technology – disruptive or constructive?