Seattle Real Estate Market Update April 2019
Seattle Real Estate Market Update Video for April 2019
Seattle Real Estate Market Update - Video Transcript
(Speaking to the narwhal): Yes, I know, you're the unicorn of the sea. How many times do you have to remind me?
Greetings everyone. Aaron Janus here, from the JanusGroup at RE/MAX Integrity. Bringing you your April 2019 market update.
So, how's the market? The Seattle real estate market is very healthy. Both pending sales and new listing activity surged during March as buyers and sellers were unencumbered by February's record snowfall. Anecdotally, our team listed four homes in the month of March. Three of those homes have since received offers and are now under contract. Two of those three homes received multiple offers, which is fantastic.
Moving on to statistics, which everybody loves, let's talk about three numbers: new listings, pending sales and closed sales.
We can see that across the three areas that we cover, and we like to break these numbers out by that area. We look at Seattle proper, then we look at the Eastside suburbs, and then King County as a whole. The number of new listings coming on the market in the last month is up 36% year-over-year in Seattle, a 15% increase on the Eastside and a 7% increase across the whole of King County.
The number of pending sales in the last month is also uniformly up across these three areas: It is up 10% in Seattle, 6% on the Eastside and 5.5% across the county as a whole. The number of closed sales is down across the area, although that is a trailing indicator obviously these went pending last month. An 8% decrease in Seattle, and a 7.5% decrease on the Eastside and across King County.
There is a trend here: pent up supply AND demand because of the snow and crazy weather we had in February has resulted in a flurry of March activity. You are, of course, familiar with the old saying: February snow brings March homes to the market, and that brings April (closings). I don't know who writes this stuff. I assure you that it's not me. Anyway folks. Hit me up if you have any questions about what's happening in your local neighborhood. We'll be happy to provide you with some stats or if you or anyone you know is interested in purchasing some real estate, selling, investing - we've got it all covered. Call me, send a smoke signal, whatever you have to do, but let's be in touch. I'm here to help. Alright, happy April!