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Key Market Indicators – December Recap 2020
Seattle Housing Update - Resale Only
The unique housing market in 2020 continues into 2021, with surge-level sales activity intensity for each new resale listing, fueled by low interest rates and a huge backlog of buyers. Now that the holiday season is complete, Seattle will see a power surge of home buyers enter the market in 2021. Although there were more active listings in Dec. 2020 versus Dec. 2019, there is a severe shortage of inventory in the $500,000 to $1 million range.
The Seattle market is virtually sold out up to $1.5 million, and sales activity intensity is predominantly surge in that price range. In the luxury price range above $1.5 million, sales activity intensity is healthy.
The Unique Housing Market Continues Into 2021
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
The year 2020 brought many changes in how we live and has made many reflect on what their home means to them. We anticipate the cyclone of sales activity intensity will continue in 2021 in the local housing market, and have outlined what’s in store in our 2021 housing forecast.
Reach out to your trusted John L. Scott broker associate if you’d like to view the 2021 housing forecast and discuss what the market changes are likely to mean to you in the coming year.
JOHN L. SCOTT’S 2021 HOUSING FORECAST
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