Tuesday , November 24 2020
Home / Calculated Risk / Seattle Real Estate in November: Sales up 21.7% YoY, Inventory down 21.1% YoY

Seattle Real Estate in November: Sales up 21.7% YoY, Inventory down 21.1% YoY

Summary:
The Northwest Multiple Listing Service reported "November Surprise" brings "plenty of buyers"; uptick in home sales, pricesBrokers with Northwest Multiple Listing Service reported "plenty of buyers" competing for sparse inventory during November, which ended with a 7% year-over-year increase in pending sales. The volume of mutually accepted offers rose even more (9.2%) in the tri-county Puget Sound region consisting of King, Pierce and Snohomish counties, with Snohomish leading that list with a jump of about 12%....Brokers reported 11,366 total active listings at month end, down more than 28 percent from twelve months ago when there were 15,830 active listings. November's selection was down about 21 percent from October.emphasis addedThe press release is for the Northwest. In King

Topics:
Calculated Risk considers the following as important:

This could be interesting, too:

Mike Shedlock writes Michigan Certifies and Pennsylvania Tosses Trump Lawsuits

Calculated Risk writes November Vehicle Sales Forecast: "Second Straight Month-to-Month Decline"

Mike Shedlock writes Janet Yellen Will Be the First Female Treasury Secretary

Doug Short writes World Markets Update: November 23, 2020

The Northwest Multiple Listing Service reported "November Surprise" brings "plenty of buyers"; uptick in home sales, prices
Brokers with Northwest Multiple Listing Service reported "plenty of buyers" competing for sparse inventory during November, which ended with a 7% year-over-year increase in pending sales. The volume of mutually accepted offers rose even more (9.2%) in the tri-county Puget Sound region consisting of King, Pierce and Snohomish counties, with Snohomish leading that list with a jump of about 12%.
...
Brokers reported 11,366 total active listings at month end, down more than 28 percent from twelve months ago when there were 15,830 active listings. November's selection was down about 21 percent from October.
emphasis added
The press release is for the Northwest. In King County, sales were up 11.1% year-over-year, and active inventory was down 33.5% year-over-year.

In Seattle, sales were up 21.7% year-over-year, and inventory was down 21.1% year-over-year..  The year-over-year increase in inventory has ended, and the months of supply is still low in Seattle (1.6 months).   In many areas it appears the inventory build that started last year is over.

Leave a Reply

Your email address will not be published. Required fields are marked *