Thursday, October 08, 2020

Seattle Real Estate in September: Sales up 59% YoY, Inventory UP 8% YoY

by Calculated Risk on 10/08/2020 02:24:00 PM

The Northwest Multiple Listing Service reported Northwest MLS brokers say September’s home sales reached highest level since June 2018

Northwest Multiple Listing Service brokers completed 10,175 sales transactions during September – the highest monthly volume since June 2018 when MLS members reported 10,072 closed sales. September’s closings also marked a jump of nearly 28% from the same month a year ago, according to the latest statistical summary from the MLS.

“I believe this significant increase speaks to sellers becoming much more confident and buyers competing more effectively, most likely due to low interest rates,” remarked Mike Grady, president and COO at Coldwell Banker Bain. “It’s as if we just completed our typical ‘spring’ market,” he added.
emphasis added
There were 10,175 sales in September 2020, up 27.8% from 7,962 sales in September 2019.

The press release is for the Northwest. In King County, sales were up 41% year-over-year, and active inventory was down 27% year-over-year.

In Seattle, sales were up 58.5% year-over-year, and inventory was up 8.4% year-over-year..  This puts the months-of-supply in Seattle at just 1.8 months.