Seattle Housing Market Trends – 2020/Nov

The Seattle housing market continues to see low inventory and high competition last month, November. It’s still a seller’s market. November’s Average Sold Price per Square Footage, For Sale Price and Sold Price is appreciating. Let’s take a look at the most recent housing market stats in King County, Seattle.

For Sale, Sold, and Pended Homes:

* Information and statistics derived from Northwest Multiple Listing Service.

There were 1,661 listings in November, a 28.3 percent decrease from the previous month and a significant 40.3 percent decrease from the same month last year.

2,484 completed transactions, a 19.8 percent increase from last month and a significant 23.3 percent increase from the same period last year.

Pended 2,072 homes, 23.1% lower than last month and 17.2% higher than last year

Average price per SQFT (Sold):

* Information and statistics derived from Northwest Multiple Listing Service.

October listings averaged $399 per SQFT, up 0.3 percent from last month and up 14.3 percent from the same month last year.

Avg Price for Sale & Sold:

* Information and statistics derived from Northwest Multiple Listing Service.

The average price of a Single Family Home in November was $924,000, a increase of 0.4% from last month and an increase of 15.5% over the same month last year.

Months of Inventory Based on Pended Sales:

* Information and statistics derived from Northwest Multiple Listing Service.

October real estate market listings with only 0.8 months of inventory left, unchanged from last month and 50.8% lower than last year.

From the November Stats, we are still in a market with an extremely low inventory, buyers are still active, and the number of sold and pending homes is much higher than the number of listings, with that said, the supply is much lower than the demand. It happened why it is so hard for home buyers even during a pandemic.

Good news! GPS offers exclusive off-market deals of real estate listings, you don’t have to compete with buyers in the market. If you have any questions or thoughts about buying, selling or renting a home in Seattle, please reach us @ (425) 243-5082, hi@gpsrenting.com,

Or add us on WeChat GPSSeattle to talk about your needs!

Wish everyone to stay healthy and the Pandemic will be over soon!