Feb 2015 Metro Report
Curious what’s up with the Seattle housing market? You’re in luck, because the February 2015 Metro Report just came out. Here’s what we took from it: The residential pending sales (see “Market Activity” in the Residential Metro Report) are actually higher than active listings, indicating an exceptionally strong real estate market both now, and in the coming months, and years. What does this tell us? If you’re contemplating whether or not to put your home on the market, now is the time to do it. There literally couldn’t be a better time to sell. Part of the reason for this is that while Seattle continues to have a surplus of buyers, we simultaneously have the lowest supply of homes in King County, with just 1.3 months of inventory available. There are 18 percent fewer homes for sale than a year ago. With supply so short, and so much buyer demand, it’s no surprise that prices have risen. The median price of a single family home went up 13 percent over last February, to $520,000. For more info, check out this month’s complete Metro Seattle Real Estate Market Update.