The Seattle area real estate market is continuing to improve! The Eastside (Areas 500-600) average 1.8 months of inventory and prices have come up 2% this month…if no new listings came on the market, we would sell out of homes in less than 2 months…! The homes in better condition and priced well will go first in this market especially. Our local economy continues to help our real estate market by becoming as much of a tech-resource as the Silicon Valley has been. Twitter just announced they’re opening up office space in the Seattle area…all of the social media giants plus Microsoft and Amazon have realized the valuable tech resources we have in the NW so they are creating a presence here!
Reading the chart below, it shows how the strong real estate market continues to be during May for the Seattle Eastside Areas (500-600). Inventory is down 34% and sales are up (pending 23%, closed 13%) thus, months’ supply of inventory is down to 1.8 (or 48%). Prices are increasing (closed sales price YTD up 2%). If there’s anything I can do for you, don’t hesitate to let me know!