Seattle Real Estate News October 2020
The Personal Seattle Real Estate News
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 September 2020: Interest rates are low but so is home inventory.
Seattle Real Estate News September 2020
The Personal Seattle Real Estate News
Seattle Real Estate News September 2020: Buying power is up, but home inventory remains tight.
KIRKLAND, Washington (September 4, 2020) – Extremely low interest rates mean would-be home buyers have more buying power, but sparse inventory and increasing home prices in many parts of Washington state are leaving many buyers unable to take advantage of these attractive rates, reported broker Frank Wilson upon reviewing the latest statistical report from Northwest Multiple Listing Service.
The August report from Northwest MLS, which covers 23 counties, shows pending sales surged nearly 25% from a year ago, rising from 10,602 mutually accepted offers to last month’s total of 13,224. Within the four-county Puget Sound region encompassing King, Kitsap, Pierce and Snohomish counties, brokers reported 9,179 pending sales. A review of MLS records dating to January 2002 shows that volume was surpassed only once, in May 2017 when brokers notched 9,188 pending sales.
[Read more…] about Seattle Real Estate News September 2020: Interest rates are low but so is home inventory.Seattle Real Estate News August 2020: Opportunities for home buyers and sellers, but “don’t delay”
Seattle Real Estate News August 2020
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Seattle Real Estate News August 2020: Many new listings added in July but inventory remains tight.
KIRKLAND, Washington (August 6, 2020) – Brokers added the largest monthly number of new listings during July since May 2019, but pent-up demand from home buyers meant inventory remained tight, according to Northwest Multiple Listing Service (NWMLS) representatives who commented on the latest housing activity report.
The Northwest MLS report for July, which covers 23 counties in Washington state, shows brokers added 12,514 new listings during July, up from the year-ago total of 11,193 for a gain of 11.8%. Pending sales jumped nearly 14%, while inventory remained well below year-ago levels (down about 39%). Measured by months of inventory, the system-wide supply slipped to about a month (1.04 months).
[Read more…] about Seattle Real Estate News August 2020: Opportunities for home buyers and sellers, but “don’t delay”Seattle Real Estate News July 2020: Inventory remains tight despite more new listings
Seattle Real Estate News July 2020
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Seattle Real Estate News July 2020: Robust activity, low interest rates, tight inventory, changing lifestyles.
KIRKLAND, Washington (July 6, 2020) – Historically low interest rates and lifestyle changes are fueling housing activity around Washington state, according to Dean Rebhuhn, president of Village Homes and Properties in Woodinville. Commenting on just-released June statistics from Northwest Multiple Listing Service, he and other brokers say multiple offers are common “especially in the median price range.” Watch Gerhard’s one-minute summary.
Brokers in the 23 counties that are part of Northwest MLS point to a shortage of homes as a key factor in the bidding wars. At the end of June, there was only 1.16 months of supply system-wide, which is the second lowest level in the past decade. (The lowest mark, at 1.12 months, was in December 2017.)
[Read more…] about Seattle Real Estate News July 2020: Inventory remains tight despite more new listingsSeattle Real Estate News June 2020: Market resilient despite coronavirus
Seattle Real Estate News June 2020
The Personal Seattle Real Estate News
Seattle Real Estate News June 2020: New listings down sharply
KIRKLAND, Washington (June 5, 2020) – “The market has proved to be very resilient,” remarked Northwest Multiple Listing Service director Mike Larson upon reviewing the statistical report for May. “Buyers in Pierce County stepped on the gas last month after a brief, but significant, tap of the brakes in April,” added Larson, the president and designated broker at ALLEN Realtors in Lakewood.
Despite the economic downturn and disruptions stemming from the coronavirus pandemic, Northwest MLS member-brokers reported impressive improvement from April to May on some key indicators. The volume of new listings, including single family homes and condominiums, rose 29.2% and pending sales jumped more than 44% systemwide.
[Read more…] about Seattle Real Estate News June 2020: Market resilient despite coronavirus