More homeowners are selling their homes, as new listings in Seattle hits 8 year high
With an eye routinely affixed to the data, I've been on the lookout for any potential shifts in a Greater Seattle real estate market that has felt like 'more of the same' for quite some time. For years, the story has revolved around a lack of inventory, strong demand, and surging prices.
Well, there's something new and different this month.
Last month, Seattle real estate had the most new listings hit the market in over 8 years. In King County, it was the most new listings in 10 years. And it's not just in the Greater Seattle area where this is happening... Northwest MLS system wide also logged the most new listings for homes and condos since May of 2008.
Is it just a case of sellers finally starting to cash in on the equity they've built?
Have you been considering cashing in on your equity and want a free selling consultation? Contact us and we'll be happy to discuss strategies with you.
What will this mean, if anything, for the rapid price growth that's taken hold of our region? Maybe nothing, since buyers and population growth don't seem to be slowing down - pending sales in King County in May were the highest they've been since before the onset of the Great Recession.
But, maybe it will help moderate the severity of the price gains. Time will tell.
***Information and statistics derived from Northwest Multiple Listing Service