Industry News JLS in the News Market Update

Condos in scarce supply in King, other local counties

Zosha Millman | SeattlePI

Real estate brokers added thousands of new listings during February, improving over the same time last year by nearly 6.4 percent, according to the latest Northwest Multiple Listing Service report.

But like many months in 2017, that wasn’t enough to keep up with soaring demand.

Pending sales during February outgained new listings by about 696 listings, keeping inventory depleted in many areas. Area-wide, the supply is about 1.4 months’ worth, but within counties like King and Snohomish there’s less than a month’s supply (the National Association of Realtors prefers six to seven months).

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