Seattle Real Estate Market in a Minute Update | July 2019

Seattle Real Estate Market in a Minute Update | July 2019


– Hi, I’m Sean Reynolds, the owner of Summit Properties Northwest and Reynolds and Kline Appraisal. This is your Market in a Minute update for the month of July 2019. Everything you need to know about the Puget Sound real
estate market in one minute. (upbeat techno music) We’re now seeing a market that is shifting from a hyper market to one where we’ve got a slow-down underway. Inventory, pending sales, and prices all increased during June
compared to a year ago, while we saw drops in both
new listings and closed sales. Instead of a crazy real estate market, it’s a slightly less crazy market now. Now is the best time to buy
that we’ve seen in a long time, and buyers are getting some relief, but it still favors sellers. So buyers are now seriously considering Pierce and Kitsap Counties as
alternatives to King County. You can buy twice the house
for about half the price. You just have to be willing
to deal with the traffic if you work in major employment centers like Seattle, Bellevue, or Redmond. So lower interest rates,
minimal inventory, and major employers continuing
to establish themselves in the Puget Sound area
will keep driving our market through the rest of 2019. Look for strong real estate trends through the rest of this
summer and into fall. Thanks so much for watching this month’s Market in a Minute update. We’ll catch you on the next one. (upbeat techno music)

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