January 2016 Seattle Area Housing Report

Lack of inventory is “a game changer” for home buyers

KIRKLAND, Washington (February 4, 2016) – Depleted inventory is contributing to “overwhelming” traffic at open houses, shifts in strategies for both buyers and sellers, and escalating prices, according to officials with the Northwest Multiple Listing Service.

Dick Beeson, a former chairman of the MLS board, said the lack of inventory in almost every county is, “without question, a 2016 game changer.” He described traffic at open houses as sometimes simply overwhelming. “There haven’t been any battle royals on the premises, but it could happen any day now,” quipped Beeson, the principal managing broker at RE/MAX Professionals in Tacoma.

The latest figures show a drop of nearly 28 percent in the number of active listings in the MLS database compared to a year ago. Members added 6,670 new listings during the month across 23 counties in the MLS service area. That’s down nearly 4.6 percent from twelve months ago. At month end, members reported 12,357 active listings, which compares to 17,082 at the end of January 2015. Read full article

Click here to view the January 2016 Report

MONTHLY SNAPSHOT – Click on each report below to view detailed data:

2016-01 Seattle-Metro
Seattle Metro Area
2016-01 Eastside
Eastside Region
2016-01 Mercer Island
Mercer Island
2016-01 King County
King County

© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.