Seattle inventory shortage causes a huge uptick in prices.
Prices for King County homes and condos (combined) jumped 20.3 percent year-over-year from January 2017. That’s great from the 1000 foot view but it doesn’t necessary tell you what’s happening in your area.Since real estate is always local, a look at the individual neighborhood reports depicts what is happening on a micro level.
Before you jump into the reports, you might be interested to know King County pending sales dropped 7.5 percent and closings dropped 18.5 percent due to the ongoing shortage of housing that our market continues to grapple with. Total active listings for sale are down nearly 17.6 percent from a year ago….and we thought we had the lowest inventory in history then!
Published February 2018.
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© Copyright 2018. Information and statistics derived from Northwest Multiple Listing Service.