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Seattle Monthly Housing News

Seattle monthly housing news is made available on Seattle Real Estate News (SERENE) thanks to the Northwest Multiple Listing Service (NWMLS). Why wait for the Case-Shiller report's national real estate data that's two months old?  Instead, get timely and detailed Seattle area real estate data right here. Check in at SERENE about the 7th day of the each month to stay current with Seattle area real estate.

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

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

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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.

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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
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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.)

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Seattle Real Estate News January 2020: Eager home buyers plentiful in December but choices were meager

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Seattle Real Estate News January 2020
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Seattle Real Estate News January 2020: Meager choices for eager home buyers in December

seattle real estate news january

KIRKLAND, Washington (January 6, 2020) – “The buyers are out there and are showing up at open houses and making multiple offers on new listings,” was how one industry leader summarized December’s housing activity involving members of the Northwest Multiple Listing Service.

Frank Wilson, Kitsap regional manager and branch managing broker at John L. Scott Real Estate in Poulsbo, also said the severe shortage of inventory – “much lower than in years past” – will lead to continued buyer frustration and escalating home values. He noted one of his colleagues added a new listing the day after Christmas and it quickly drew 11 offers.

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Seattle Real Estate News December 2019: November buyers aplenty, inventory sparse, prices up.

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Seattle Real Estate News December 2019
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Seattle Real Estate News December 2019: Plenty of buyers in November, competing for sparse inventory

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KIRKLAND, Washington (December 5, 2019) – Brokers with Northwest Multiple Listing Service reported “plenty of buyers” competing for sparse inventory during November, which ended with a 7% year-over-year increase in pending sales. The volume of mutually accepted offers rose even more (9.2%) in the tri-county Puget Sound region consisting of King, Pierce and Snohomish counties, with Snohomish leading that list with a jump of about 12%.

Median sales prices also jumped compared to both a year ago and to October. For November’s 7,216 closed sales (which were up 5.5% from a year ago), the area-wide sales price was $434,900, a gain of about 10% from the same month a year ago. Compared to October, last month’s price on sales of single family homes and condos (combined) jumped 3.5%.

King County’s median price of $612,000 led all other counties, but prices there edged up just over a percentage point compared to a year ago.

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Seattle Real Estate News November 2019: Inventory Shortages Creating the New Normal

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Seattle Real Estate News November 2019
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Seattle Real Estate News November 2019:  Sparse home supply spurring more competition in Western Washington

Seattle Real Estate News NovemberKIRKLAND, Washington (November 7, 2019) – “People are moving here, home prices will continue to increase, inventory shortages will occur. That’s our future,” remarked Dick Beeson, principal managing broker at RE/MAX Northwest in Gig Harbor, upon viewing the October statistics from Northwest Multiple Listing Service.

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.

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