As the mid-summer slowdown sets in for Seattle real estate, we're finally seeing inventory levels begin to rise. Active real estate listings in the city have been scarce for the first half of the year, and we're only now starting to see a slightly healthier level of homes for sale in the Seattle market.
Total home sales in June dropped 10.9 percent from the previous month, allowing more listings to sit on the market for a longer period of time and increase the effective inventory. While sales were down for the month, they're still 11.4 percent higher than they were in June of 2012.
June's 751 home sales were still more than in any month of 2012, in fact. While a slowdown is technically in effect, the overall market should still be viewed as very strong, and the 2 months of inventory are merely a slightly less-restricted pool of homes. Sales continue at a quick pace, and buyers should still expect competition when making an offer on a new listing.
© SeattleHome.com: - Sam DeBord, Managing Broker, Realtor
State Director, Washington Association of Realtors
Coldwell Banker Seattle: Coldwell Banker Danforth & Associates
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Source: NWMLS Stats - The Northwest Multiple Listing Service did not compile or publish this information.
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