In February, unknown to most of us, a silent killer was arriving here in Seattle, preparing to create mass boredom. I spent half of my adolescence in a dense redwood forest. We had flash floods and rain that lasted for weeks. Like most storms, there's a race to get everything you needed into the house and there's a calm in waiting for the big storm. Then, it just hits, and everyone just stays indoors for weeks.
As a kid, when I was indoors for what felt like years, I learned to make THE BEST most AMAZING tent/cardboard box forts with my dad. I created games that practically got my sisters and I killed, completed Sudoku and solitaire puzzles in some serious record times, got all of my homework done without my mom having to ask 10 times. But most of all, I liked to look up to watch and listen to the rain between the pages of my books.
I have my 30-day's of food, closed out my last transaction this week + delivered the keys just before Shelter in Place, created my gym fort, mastered a few solitaire puzzles. Now, here I am actually doing my homework. Just in time too, because I got a video this morning on my email from a guy I think is pretty cool, telling me to get to work.
So here we go...
Seattle's Housing Market at a Glance
As I pushed through February, the worry about COVID-19 continued to grow. I fielded a lot of questions, with the biggest one, is now the right time to buy? The stock market was on a downward slide, and interest rates to purchase a home were just too good to refuse. I have never received so many excited emails, texts and phone calls from lenders reminding me to refinance and reminding me to tell all of my clients the good news.
January's ShowingTime was released, and it showed that home viewings increased 20.2% year-over-year in showing traffic nationwide. Knowing that there's an upswing in property showings would be a leading indicator for future home sales.
The 2020 housing market looked to be off to a really strong start. We all know now, things are going to be so, so much different once the storm lets up.
I always like to look at photos when someone describes something to me. Below, is my makeshift gym. I already had all of the equipment in storage, I just had to find a little nook to set it all up. The other photo is my essential turkey soup starters. Stay in doors and healthy everyone!
For the Central Puget Sound:
King, Kitsap, Pierce and Snohomish Counties
- Closed Sales decreased 10.6% for Residential homes but increased 5.4% for Condominium homes.
- Pending Sales increased 35.4% for Residential homes and 61.8% for Condominium homes.
- Inventory decreased 42.9% for Residential homes and 40.2% for Condominium homes.
- The Median Sales Price increased 9.3% to $530,000 for Residential homes and 12.8% to $415,000 for Condominium homes.
- Days on Market decreased 20.8% for Residential homes and 11.4% for Condominium homes.
- Months Supply of Inventory decreased 50.0% for Residential homes and 46.7% for Condominium homes.