Here we are at the end of week 2 of January 2020! Our daily statistics tracker shows new listings surged by the 10th and then dropping down again in volume, while total pendings are almost matching actives at 98%. (https://tinyurl.com/BPStatisticsDaily). What’s really amazing is that there is a 44% ratio of 6-day pendings to current new-actives, which is unusually high, and not buyer-friendly. It could be amplified by the 2019 holiday inventory vacuum combined with January 2020 threats of early snow, so we’ll just have to see what falls out in the next few weeks!
New Actives took an unexpected dip while new Pendings pushed upwards, causing a 44% ratio of 6-or-less day-pendings, compared to new actives. MLS Market Watch showed 36 new Pendings to only 17 new Actives, a very seller-friendly environment:
Alan Pope’s great site (alanpope.com) is showing inventory dropping by about 1,000 in just a couple of the last months. If this continues, we’re back into a multiple-offer market. We’ll know more in the next couple of weeks as to whether that will pull back up (the blue line):
That’s it for now, hoping you have an awesome start to the year, and we hope you will reach out to us for any help we can offer! You can also see our weekly Seattle market update “This Week In Seattle Real Estate” at brucephares.withwre.