Seattle Real Estate Market Update [March 2021] - Market in a Minute

Here is your 𝑺𝒆𝒂𝒕𝒕𝒍𝒆 𝑹𝒆𝒂𝒍 𝑬𝒔𝒕𝒂𝒕𝒆 𝑴𝒂𝒓𝒌𝒆𝒕 𝑼𝒑𝒅𝒂𝒕𝒆 for February 2021. Your Market In A Minute Video, everything you need to know about the Seattle Real Estate market in 1 minute!!

If you watch 1 video this month about real estate, make it this one!

𝗧𝗼𝗽𝗶𝗰𝘀 𝘁𝘆𝗽𝗶𝗰𝗮𝗹𝗹𝘆 𝗰𝗼𝘃𝗲𝗿𝗲𝗱 𝗶𝗻𝗰𝗹𝘂𝗱𝗲:
King County, Snohomish County, Pierce County, Thurston County Real Estate Markets
► Seattle Housing Issues
► Seattle Real Estate News
► Seattle Realtor - Broker Trends
► Seattle Housing Market Forecast 2021

𝑯𝒐𝒖𝒔𝒊𝒏𝒈 𝒎𝒂𝒓𝒌𝒆𝒕 𝒔𝒕𝒂𝒚𝒔 𝒉𝒐𝒕 𝒅𝒆𝒔𝒑𝒊𝒕𝒆 𝒔𝒐𝒎𝒆 “𝒍𝒐𝒖𝒔𝒚” 𝑭𝒆𝒃𝒓𝒖𝒂𝒓𝒚 𝒘𝒆𝒂𝒕𝒉𝒆𝒓

Housing activity during February remained hot around much of Washington state despite a significant accumulation of lowland snow over the Valentine’s Day weekend, according to the latest statistical report from the Northwest Multiple Listing Service.

“It’s amazing how close the February numbers are when compared to February 2020, which was, of course, right before our world changed,” said Mike Grady, president, and CEO of Coldwell Banker Bain.

"Despite our similarly lousy February weather, the data show that the market continues to be hot, with residential inventory very tight and median prices rising by double digits across most of our counties.”

Northwest MLS figures show brokers added a similar number of new listings of single-family homes and condos last month (7,418) as a year ago (7,786), for a difference of 368 properties (down 4.7%). For residential units (excluding condos), there was a 6.8% year-over-year (YOY) drop.

Total active listings of single-family homes declined nearly 44% from a year ago. The selection of single-family homes fell more than 51% while condo inventory rose 7.9%.

“A decline in listing volume this year should not surprise anyone,” remarked James Young, director of the Washington Center for Real Estate Research at the University of Washington.

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