In a marked shift this week, the number of pending sales were down or neutral in all but three Seattle area markets: West Seattle, South Bellevue and Redmond. The inventory of homes for sale was up or neutral across the region. This typical market shift occurs each year in our region as more homes for sale create additional choices for buyers who have had little to chose from during their search.
Only two buyer’s markets (indicated by dark blue) currently exist in our region as a result of more inventory for sale than there is buyer demand. They are Mercer Island above $2 million and East of Lake Sammamish between $1.25 and 1.5 million.
Eleven balanced markets (indicated by green) occurred this week: Capitol Hill $600,000-699,999 and above $2 million; South Bellevue $1.5-2 million and above $2 million; West Bellevue above $2 million; Kirkland $1.5-2 million and above $2 million; Woodinville $800,000-899,999, $1-1.25 million, and above $2 million; and Queen Anne above $2 million.
East Lk Sammamish
© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.