Photo: AR McLin
Redfin recently published its December Fastest Markets report, which shows that median days on market for Seattle homes increased from 24 to 31 days last month. Incidentally, that's still two days faster than December 2012.
The good news, that extra week doesn't seem to have an effect on home selling speeds, which are still strong. 26.1% of new listings going under contract in two weeks or less. That's down 2.7% from November, but putting the two numbers together, means the drop-off could be much worse.
Redfin agents attribute the market's fast pace to still very tight inventory and buyers rushing to get homes under contract before spring's anticipated mortgage rate hikes.
· Home-Selling Speed Declines in December, But Signs Point to Faster Spring Ahead [Redfin]