October 25, 2023 Weekly Market Watch with Chris Doucet

The previous week saw a steady active inventory, with a slight decrease in both pending and sold listings. The median sale price and active price held steady, even as the days on the market decreased slightly. With persistent buyer demand, we can expect an increase in the median sale price as we move into the new year. Contact me today to set up a consultation in person or virtually to learn more about market conditions, Compass Concierge, and how I can leverage our nationwide network to source buyers to sell your home for more money.

Chris Doucet Founding Broker in Seattle M: 206.819.4663 chris.doucet@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Compass National Real Estate Insights - October 2023

Monthly median house sales price since 1990: The September 2023 median price declined slightly from August, but was up 2.5% year-over-year. U.S. median house sales price appreciation since 1990. Over the longer term, homeownership has typically been a great builder of household wealth. Median condo/co-op sales prices since 2000. In markets in which they are common, condos & co-ops are usually a more affordable alternative to houses. Certainly one of the most important factors in housing markets since 2022 began has been the increase in interest rates, which has continued in recent months. Using 12-month-rolling-average data, a broad illustration of the huge decline in the number of new listings coming on market over the past 6 years. Monthly number of homes for sale: The decline in new listings amid rebounding buyer demand in 2023 has deeply affected supply. Months Supply of Inventory (MSI) measures the strength of buyer demand as compared to the supply of listings for sale. Price reductions have been climbing since spring, a common seasonal trend, especially as we get closer to the mid-winter holiday slowdown. Monthly number of sales: Economic conditions and low inventory have dramatically impacted monthly and 12-month sales volumes. Days on market: Generally speaking, homes continue to sell quite quickly, though not quite as quickly as during the height of the pandemic boom. As a percentage of total sales, all-cash purchases hit their highest point in 9 years, tying the percentage hit earlier this year. Inflation, the Fed's greatest concern, has plunged from its mid-2022 high, but has not seen the desired level of improvement in recent months. Employment has remained very strong - in fact too strong for many economists and investors watching the Fed and inflation numbers. Stock markets remain well up in 2023, but amid economic & political uncertainties are significantly down from the YTD peaks of mid-summer. Though generally dropping in recent years, the overall trend in new home construction over the past 50 years has been toward larger houses. According to RealTrends, Compass sells more residential real estate, in dollar-volume sales, than any other brokerage in the nation.

Please let me know if I can, in any way, be of assistance to you, or to your family, friends and colleagues.

Chris Doucet Founding Broker in Seattle M: 206.819.4663 chris.doucet@compass.com

National and regional statistics are generalities, essentially summaries generated by thousands of unique, individual listings and sales occurring across different market segments. They are best seen not as precise measurements, but as broad, comparative indicators with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, and last period data should be considered preliminary estimates which may be revised in future updates. Different analytics programs sometimes define standard statistics differently - such as "active listings," "days on market," and "months supply of inventory": What is most meaningful are not specific numeric calculations but the trends they illustrate. Data from sources deemed reliable, but may contain errors, and subject to revision. All numbers to be considered approximate, and how these analyses apply to any particular property is unknown without a specific comparative market analysis. Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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October 18, 2023 Weekly Market Watch with Chris Doucet

The active inventory in King County showed no significant changes compared to the previous week, with a slight increase in pending listings and a decrease in sold listings. The median list price for active listings remained steady, while the median sold price experienced a minor uptick, accompanied by a slight increase in the days on the market. Contact me today to set up a consultation in person or virtually to learn more about market conditions, Compass Concierge, and how I can leverage our nationwide network to source buyers to sell your home for more money.

Chris Doucet Founding Broker in Seattle M: 206.819.4663 chris.doucet@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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October 12, 2023 Weekly Market Watch with Chris Doucet

Active inventory remained relatively stable from the week prior while sold and pending listings decreased in King County. The days on market remained relatively stable in conjunction with the median active price, and the median sale price rising slightly showing despite increased rates that demand continues to remain in pockets of King County. Contact me today to set up a consultation in person or virtually to learn more about market conditions, Compass Concierge, and how I can leverage our nationwide network to source buyers to sell your home for more money.

Chris Doucet Founding Broker in Seattle M: 206.819.4663 chris.doucet@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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October 5, 2023 Weekly Market Watch with Chris Doucet

In King County, there has been a decrease in both active listings and sold listings compared to the previous week, while the number of pending listings has increased. The days on market have remained consistent, but there has been a decrease in new listings. As we transition into the fall market, the median sale price and median active price have shown stability. Contact me today to set up a consultation in person or virtually to learn more about market conditions, Compass Concierge, and how I can leverage our nationwide network to source buyers to sell your home for more money.

Chris Doucet Founding Broker in Seattle M: 206.819.4663 chris.doucet@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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