Seattle Real Estate Market Update for April 2024

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In this video:
In April 2024, the Seattle real estate market presented a nuanced picture, with condominiums grappling with a significant downturn since 2021. This was marked by a 30% decrease in sales and burgeoning inventory levels reminiscent of the aftermath of the Great Recession.

Factors such as evolving rental market dynamics and shifting work practices contribute to this paradigm shift, challenging both sellers and agents alike. Conversely, the single-family home segment demonstrates relative stability amidst market fluctuations, with sales showing signs of equilibrium compared to the previous year. Despite a 37% drop in sales from 2022, the single-family market maintains a demand rate hovering around one month of inventory. This signals a return to normalcy amid historic volatility.


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**CHAPTERS**
00:00 - INTRO - Seattle Real Estate Market Update for April 2024
00:46 - Interest Rates Stay Unchanged aka High
01:02 - Let's Get Nerdy About the Seattle Real Estate Numbers
01:16 - Seattle Condo Market vs. Seattle Single-Family Home Market
01:22 - Seattle's Condo Market is a Sellers Market
01:30 - Seattle Single Family Home Market is Stable
01:40 - Seattle's Condo Market Update
02:13 - Seattle's Capitol Hill, Belltown, and Downtown Condo Market is a Buyer's Market
02:44 - Decreasing Rents are Impacting Landlords and Investors
03:56 - Seattle's Single-Family Home Market Update
04:10 - Drop in the Number of Seattle Single-Family Home Sales
04:51 - Closing/Recap of the Seattle Real Estate Market for April 2024
05:14 - OUTRO - Seattle's top real estate agent Kim V. Colaprete


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