Seattle is the fifth most competitive U.S. market when it comes to bidding for homes and the most competitive market outside of California, according to Redfin. In Seattle, 74.6 percent of all home offers faced competition in April , which is up from 72.5 percent a month earlier and up from 68 percent a year earlier, according to the Seattle online brokerage company. Seattle trailed only Orange County, San Francisco, San Diego and Los Angeles in Redfin's national competitiveness ranking.
In great Seattle, there’s a one- to two-month supply of homes available. A healthy market is 5-6 months of inventory. The shortage is happening in the above $1 million range as well. In King County, we are down to a four-month supply in houses above $1 million. A healthy market would be six- to seven-months supply.
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