Seattle Real Estate Market Update | March 2020 | Market In A Minute

Here is your 𝑺𝒆𝒂𝒕𝒕𝒍𝒆 𝑹𝒆𝒂𝒍 𝑬𝒔𝒕𝒂𝒕𝒆 𝑴𝒂𝒓𝒌𝒆𝒕 𝑼𝒑𝒅𝒂𝒕𝒆 for March 2020. Your Market In A Minute Video, everything you need to know about the Seattle Real Estate market in 1 minute!!

If you watch 1 video this month about real estate, make it this one!

Join Sean Reynolds, owner of Summit Properties NW, Reynolds & Kline Appraisal and the host of the Seattle Real Estate Podcast as he covers monthly Western Washington State Real Estate topics like:

𝗧𝗼𝗽𝗶𝗰𝘀 𝘁𝘆𝗽𝗶𝗰𝗮𝗹𝗹𝘆 𝗰𝗼𝘃𝗲𝗿𝗲𝗱 𝗶𝗻𝗰𝗹𝘂𝗱𝗲:
King County, Snohomish County, Pierce County, Thurston County Real Estate Markets
- Seattle Housing Issues
- Seattle Real Estate News
- Seattle Realtor - Broker Trends
- Seattle Housing Market Forecast 2020

𝐍𝐖𝐌𝐋𝐒 𝐛𝐫𝐨𝐤𝐞𝐫𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐛𝐫𝐢𝐬𝐤 𝐚𝐜𝐭𝐢𝐯𝐢𝐭𝐲, 𝐧𝐨𝐭𝐢𝐧𝐠 “𝐭𝐨𝐨 𝐞𝐚𝐫𝐥𝐲 𝐭𝐨 𝐭𝐞𝐥𝐥” 𝐢𝐟 𝐜𝐨𝐫𝐨𝐧𝐚𝐯𝐢𝐫𝐮𝐬 𝐰𝐢𝐥𝐥 𝐬𝐨𝐟𝐭𝐞𝐧 𝐬𝐚𝐥𝐞𝐬

Member-brokers added 7,786 new listings to the MLS database during February. That was a jump of nearly 25% from the same month a year ago when record snow hindered activity. Compared to January, last month’s inventory improved by 1,269 listings for a gain of nearly 19.5%.

February’s new listings (7,786) were the highest since October, but they fell short of matching demand.

Brokers reported 8,355 pending sales (mutually accepted offers) for a YOY gain of more than 21%. Inventory remained tight. At month-end, there were 7,655 active listings in the 23 counties included in the MLS report. That was a 32% drop from the year-ago total of 11,275. All but two counties (San Juan and Douglas) reported declines. Thurston County had the largest year-over-year drop, at 45.7%, followed by Snohomish (down 42%) and King (down 40.7%).

There is only 1.45 months of supply area-wide, according to Northwest MLS data. It is even more sparse in the four-county Puget Sound region where there is barely over a month’s supply (1.1 months). Snohomish and Thurston counties had the distinction of having the sparsest inventory, with both areas reporting less than a month (0.93) of supply.

#SeattleMarketUpdate

🎙 𝑺𝒆𝒂𝒕𝒕𝒍𝒆 𝑹𝒆𝒂𝒍 𝑬𝒔𝒕𝒂𝒕𝒆 𝑷𝒐𝒅𝒄𝒂𝒔𝒕
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