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Seattle Market Watch: The 5 Things You Need To Know

Earlier this week we talked about the most recent signs that the Seattle housing market is heating up again - just in time for the Spring season. Looks the trend continues with the latest report from the NWMLS.

Here are the 5 things you need to know from their just-released February report:

  • #1: The snow storm iced out buyers & sellers: Everyone had cabin fever during the #SeattleSnowmaggedon, and as a result, stats for pending sales in February dropped nearly 14% compared to the same month in 2018
  • #2: Brokers added about 1,000 fewer homes last month than a year ago: 6,247, but inventory compared to last year is up 42%.
  • #3: Prices are going up again. Home prices are up in most counties year to year.
  • #4: Compared to January 2019, prices are up 6.6%. Single family home prices are up 7.4%.
  • #5 Compared to January 2018, prices are up 2.4% in King County

Read Faira CEO Kamal Jain's advice to buyers and sellers here. And let's hope we've seen the last of the snow! 

 

 

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Lisa S.

Written by Lisa S.

Director of Communications, Faira

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