A Year-End Review…some shocking stats!

Inventory Analysis change over a year comparing the same month. A snapshot of Seattle, residential homes 300k-600k.

Current Vs. Same Month 1 Year Ago

                        Nov. 12              Nov. 11       % Change

For Sale        340                        613                 -44.5%

Sold               281                         188                  49.5%

Pended         275                          180                  52.8%

It is shocking to see these numbers. Inventory of homes for sale is way down (44.5%) yet buyers are scooping up homes at a much higher rate (approx. 50% higher!)We are seeing multiple offers. Our buyers are having to rush to homes the first day on the market so they don’t miss out. It is certainly a VERY different market than it was a year ago. We recently went to a Real Estate seminar with Real Estate guru Denise Lones. She, over the years, has proven herself as a good judge of the upcoming market. She predicted that this low inventory, high demand will continue through 2013.

This change of low inventory & high buyer demand is not just isolated to November…We see it now and all last quarter.

Current Vs. Same Quarter 1 year ago

                       Sept. 12-Nov.12              Sept. 11- Nov.11        % Change

For Sale              439                                           729                        -39.8%

Sold                      290                                          216                          34.3%

Pended                308                                          208                         48.1%