Eastside & Seattle Market Absorption Rates
By: Tony Meier
Eastside & Seattle Realtor
This week we will be looking at the Residential market absorption rates for the Seattle Area over the last 7 weeks. It appears that Seattle is back on the mend with many of the numbers returning to a balanced market. In fact, some areas and price ranges are clearly favoring the seller!
When looking at these numbers, keep this in mind:
1. These are an average of the all price ranges in the area. Some price ranges are definitely moving faster than others! If you would like to know how things break down in a specific price range for an area, send me an email at tony@eastsidehomes.com
2. These numbers are a result of the sales activity over the last 7 weeks when comparing the number of active listing vs. the number of pending sales to determine what the market absorption rate is for a particular area.
3. When measuring the heat of the market, the following rules apply:
a. 12 weeks or less = Seller’s Market
b. 12-24 weeks = Balanced Market
c. 24 or more weeks = Buyer’s Market
When compared to 4 weeks ago, it is kind of a mixed bag with some of the hotter areas slowing down a bit, and the cooler areas warming up. One thing is certain the lower end (under 5-600k) is stronger than the upper end of the market in all areas.
Residential Only, NWMLS Area 140 (West Seattle) = 19.4 weeks of inventory (was 19.4 four weeks ago)
Residential Only, NWMLS Area 380 (Central Seattle) = 30.8 weeks of inventory (was 35 four weeks ago)
Residential Only, NWMLS Area 385 (SODO/Beacon Hill) = 19.8 weeks of inventory (was 22 four weeks ago)
Residential Only, NWMLS Area 390 (Central Seattle) = 23.5 weeks of inventory (was 26 four weeks ago)
Residential Only, NWMLS Area 700 (Queen Anne/Magnolia) = 21.8 weeks of inventory (was 17 four weeks ago)
Residential Only, NWMLS Area 705 (Ballard/Greenlake) = 16.3 weeks of inventory (was 14.8 four weeks ago)
Residential Only, NWMLS Area 710 (North Seattle) = 14.7 weeks of inventory (was 13.4 four weeks ago)
Residential Only, NWMLS Area 715 (Richmond Beach) = 24.2 weeks of inventory (was 20.8 four weeks ago)
Residential Only, NWMLS Area 720 (Lake Forest Park) = 17.9 weeks of inventory (was 24.1 four weeks ago)
If you have any questions on this information or would like to know the strength in your area and price range, I welcome you to email me at tony@eastsidehomes.com
Posted By:
Tony Meier
Eastside & Seattle Realtor
EastsideHomesBlog.com
EastsideHomes.com
Seattle’s Eastside Real Estate Resource
tony@eastsidehomes.com
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