Seattle Housing Market Report For January 2021

[Jason Fox]

Every month we gather all the facts, data and statistics about the Seattle Housing Market and share them with you. We will discuss the 3 major factors in determining the strength of the market.

• Inventory
• Percentage of Homes That Go Pending In First 30 Days
• Interest Rates

The data tells a story about the current state of our local residential real estate market.

What this story tells me is...

That buyers are so hungry for inventory that lower quality inventory is selling. New Listings, Pendings and Solds are all way above average but the average sales price went down. In conjunction with the fact that homes priced in the $250-350k range are only selling in the first 30 days 28% of the time compared to 60% of the time for homes priced from $500k to $1m. Condos seem to be less desirable as they are taking on average 20 days longer to sell.

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