'Extreme frenzy': Seattle housing market continues to see low inventory, more sales
The housing market in Seattle and King County has continued to see low inventory and growth in sales heading into the spring, according to recent data.
The February report from Northwest Multiple Listing Service -- which covers 23 counties in the Puget Sound region -- found in King County, the number of active listings was down about 41% year over year, compared to February 2019.
The county also saw about a 5% increase in closed sales in February year over year. Median home prices for closed sales were up just slightly year over year in King County, at $615,000. The data showed a 27% increase in the number of pending sales year over year, from 2,278 to 2,895.
“We remain virtually sold out in many areas in the more affordable and mid-price ranges. In the Puget Sound region, we’re in at extreme frenzy sales activity intensity in the price ranges where 80 percent of sales are taking place," J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, said in a news release.
https://www.msn.com/en-us/money/realestate/extreme-frenzy-seattle-housing-market-continues-to-see-low-inventory-more-sales/ar-BB10SqMN?ocid=hplocalnews