Seattle Market Report, May 2020

While COVID has dampened the volume of activity of a typical Spring real estate market in Seattle, it has not killed it. February’s incredibly short supply and booming demand has led to a situation in May where homes that are dialed in and well-priced are still selling.

For this market report, we tried to focus on the metrics that could provide the most real-time snapshot we could find: pendings over sales, “per day” numbers, etc. The trick is not to focus on the year-to-year comparisons but rather, what are Seattle buyers doing SINCE “Stay home, stay healthy” went into effect.

April 2020May 1-13, 2020
Months of Inventory1.41
New Listings Per Day22.827.9
Pendings Per Day16.824
Average Days on Market1419
Sold/Original List Price (%)101%99%

It looks like more listings are coming on the market and sitting for a slightly longer amount of time. At the same time, pendings are also up and prices are not dropping. The conclusion: smart pricing strategy is the key.

Check out the rest of the report for more data, a useful news article, and more detail on specific neighborhood markets in the City.

5pg_May_mkt-report

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