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@staging.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
Residential Only, NWMLS Area 140 (West Seattle) = 19.4 weeks of inventory
Residential Only, NWMLS Area 380 (Central Seattle) = 35 weeks of inventory
Residential Only, NWMLS Area 385 (SODO/Beacon Hill) = 22 weeks of inventory
Residential Only, NWMLS Area 390 (Central Seattle) = 26 weeks of inventory
Residential Only, NWMLS Area 700 (Queen Anne/Magnolia) = 17 weeks of inventory
Residential Only, NWMLS Area 705 (Ballard/Greenlake) = 14.8 weeks of inventory
Residential Only, NWMLS Area 710 (North Seattle) = 13.4 weeks of inventory
Residential Only, NWMLS Area 715 (Richmond Beach) = 20.8 weeks of inventory
Residential Only, NWMLS Area 720 (Lake Forest Park) = 24.1 weeks of inventory
If you have any questions on this information, I welcome you to email me at tony@staging.eastsidehomes.com
Posted By:
Tony Meier
Eastside & Seattle Realtor
EastsideHomesBlog.com
EastsideHomes.com
Seattle's Eastside Real Estate Resource
tony@staging.eastsidehomes.com
