SEATTLE CONDOS SELLING AMID COVID-19 CRISIS
I am as surprised as you are – in the last 7 days, there were more pending sales (condos under contract) than new condo listings in Downtown Seattle.
Here is a list of the new active listings on the market:
I wouldn’t read too much into this trend. Bottom line is, Seattle’s economy was in a VERY good place before the Covid-19 crisis. There is a large swath of people in Seattle that are highly educated, highly paid and will look past the “temporary” market conditions to make good long term investments.
Companies like Amazon, Facebook, Google, Oracle, Microsoft and others will continue to make strategic hires in this environment. Seattle and the real estate market stand to benefit from those. Here are some positive headlines during a time that most of the news is negative:
UPDATE ON COVID-19
Global deaths 4.7k, down two days in a row
NY: Gross new hospitalized down two days in a row; . peak strain now expected within a week
Italy: ICU declined first time
Spain: Deaths down 3 days in a row
France: ICU slowing; deaths flattening” (via @CowenResearch)