January 2019 Seattle Housing Market Update

Tuesday, January 8, 2019   /   by Megan Ochoa Davis

January 2019 Seattle Housing Market Update

Here's your look at the December housing statistics. While many major news sources have discussed the rising inventory levels we'd also like to point out that last month pending sales were up 4%, indicating a slight rise in buyers as well. This is likely a result of interest rates lowering in December, making home ownership a reality for buyers that may be sensitive to smaller changes in monthly payments. 
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The housing inventory truly spiked in the back half of 2018 (over 100% higher!). Potential sellers may be wondering then, "should I wait until inventory falls back down to list my house?"

The answer is no. The majority of the existing housing inventory is not newly listed properties. It's homes that listed in September/October/November that have gone stale (and probably need pricing corrections). Homes listing today, at fair market prices, are still selling quickly. Since inventory usually rises in the Spring, we'd advise that listing sooner, with a fair price is a way to stand out among the other houses in your neighborhood. Staying ahead of the market is always the best bet!
Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS. Copyright 2016 NWMLS.
Properties with the NWMLS icon are courtesy of Northwest MLS.
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