February market stats were published by the NWMLS yesterday. Before we get into our monthly stats, here’s a quick look at their press release.
Last month we saw a slight uptick in inventory, but this month the number of homes on the market fell back down a bit again, putting us at the lowest February inventory level on record. With just 2,101 new listings hitting the market last month, February 2016 also saw the fewest new listings on record for a February, just barely beating out the previous low set in 2014.
Basically, if you’re buying a home in the Seattle area right now, expect to have very little selection and lots of strong competition. Not a fun time to be a home buyer.