Pending sales of homes hit an all-time high for the month of November according to the latest statistics from Northwest Multiple Listing Service. The report covering 23 counties around Washington state also shows the number of new listings added during the month plunged to the lowest level in 11 months, prompting MLS leaders to predict a busy winter for residential real estate as buyers compete for the smallest inventory since March.

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Our markets responded to the outcome of the presidential election with pause, as home buyers and sellers pondered how the local real estate market (and country) will be impacted by the shake-up in the White House. Activity slowed in 12 of the 17 market segments we track here. This is definitely an expected response to any noteworthy national event. Time will tell how consumer confidence impacts the market for the longer term.

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Ballard hip, West Seattle views, or Kirkland serenity? TheMarketTalks.com offers an easy way to research and compare neighborhoods throughout the Seattle-Eastside area, including maps, photos, links and more. The neighborhood profiles are a labor of love by the team at Windermere Real Estate/Mercer Island, developed to give consumers easy to access tools to enable them to learn more about potential communities within our Seattle Metro area” says the company’s owner Julie Barrows. The website relies heavily on relevant links to great resources that locals know, but others might not. It’s beauty is that it is all assembled in one easy to access place.

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Seattle and the Eastside split ways this week, statistically speaking. Most Seattle neighborhoods saw strong activity and an uptick in sales while the Eastside slowed markedly with sales down across the board. Renton remained solid aligning itself with the Seattle contingent and ignoring its Eastside neighbor’s influence. Condos followed a similar path with Seattle condo activity up while Bellevue sales fell flat.

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The market remained very stable this week in spite of storms that battered our region as the week ended. South Bellevue-Issaquah, West Bellevue, Redmond, Woodinville, and North Seattle experienced an uptick in sales activity. Renton, Capitol Hill, East Bellevue, Queen Anne-Magnolia, and Ballard-Greenlake slowed moderately. Downtown Bellevue condo sales were up while Downtown Seattle sales were lower. This activity is a great reminder that not only is real estate local to each neighborhood but it is also ever changing from week to week.

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83,000 new jobs +/- in the tri-county region surrounding Seattle have certainly made their presence felt. Couple that with crazy-low interest rates and it’s no wonder that housing demand is so strong. The neighborhoods of North Seattle and Queen Anne-Magnolia stood apart from the crowd with record year-over-year increases in the average sale price for Q3—but other Seattle communities still fared quite nicely with Seattle posting an overall 12.4% Q3 gain.

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This week saw a huge uptick in pending sales in all but three MLS areas as sellers benefited from a fall rush of sales in this first full week of September. Perhaps a robust, but balanced, market lay ahead? Certainly there is every indication that demand remains strong. Employment is solid. And…Seattle is ranked as one of the best regions to call home. A winning combination for a sustainable real estate market.

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This Labor Day week ended with a flood of new listings to market. Buyers across our region are collectively doing a happy dance as they have more homes to chose from, in fact, upwards of 20% more compared to last week in some neighborhoods. That could accelerate the shift we have begun to see in the market. The message for home sellers: price competitively and/or offer a turnkey ready home or be prepared for longer market times.

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