Time has been a friend in the Seattle Eastside Real Estate world…by that, I mean we’re sitting on 22% less inventory than this time last year…Yes, that’s good news! Serious sellers occupy the market and consequently, that’s the property that’s selling. Here’s the monthly highlights:
- Pending contracts month-to-date are up 16%
- Pending contracts year-to-date are up 8%
- Closed sales month-to-date are up 34%
- Closed sales year-to-date are up 10%
- Median closed sales prices are down 5%
The key take-away this month is inventory numbers are continually dropping; both from sales and sellers thinking we’re headed into a slow market. The real story is, we’re headed into a market of the most serious buyers we see all year. Those that choose to move when inventory is low are often relocation buyers…serious buyers! And basic principles of econ 101; when inventories are low, prices have a reason to rise…Oh ya, our job economy is highly active in the tech arena. What do you think we’ll see?