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Key Market Indicators – June Recap
Seattle Housing Update - Resale Only
As the weather outside warms, the housing market in Seattle is already piping hot, with sales activity intensity higher than it was the same time last year! Homes priced up to $1.5 million are virtually sold out, with sales activity intensity ranging from surge to frenzy. 93 percent of sales activity takes place in this range. Though overall unsold inventory is down 48 percent compared to the same time last year, we’re seeing new listings making a comeback – a welcome sight for buyers.
Homes priced $1.5 million and above have strong sales activity intensity in Seattle.
Buyers Welcome Sellers Back to the Market
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
65%
Current
2.94%
30%
Normal
In today’s market, many buyers face constrained inventory in the more affordable to mid-price ranges. Those looking to sell in many cases are receiving multiple offers in these price ranges. In addition to working with a qualified agent, another important component to success is understanding the trends in the neighborhood you’re buying or selling in.
John L. Scott’s Property Tracker® allows users to create a custom search on the map, creating custom tailored MarketInsights reports. With MarketInsights, you can stay up-to-date on real estate market trends you care about, whether buying or selling.
MarketInsights™ For Your Neighborhood
SCALE: MONTHS SUPPLY
