Seattle-area housing market remains strong

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Real Estate

The Seattle-area housing market remained strong in November, even as the holiday season kicked off, normally signaling a slower market.

According to the latest report from Northwest Multiple Listings Service, inventory is still down compared to the same time last year, while closed and pending sales are up over last year.

“The holiday rush is on for housing,” said J. Lennox Scott, chairman and CEO at John L. Scott Real Estate. “Though real estate activity typically chills down in alignment with the dropping temperatures, the housing market is anything but calm this winter given the historically low interest rates."

Compared to last month, the market has shown some indicators it is slowing. In King County there were 2,867 total active listings, down from 3,806 last month and down about 18% over the same time last year. Compared to 2019, King County saw a nearly 6% increase in pending sales in November. But compared to last month, King County saw a more than 20% decrease in pending sales.

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