If you are thinking listing or purchasing real estate in Seattle, WA, knowing the current market conditions can have a profound impact on your experience. As a seller, knowing things like the average and median sold price will guide you in picking a listing price appropriate for the market conditions. As a buyer, you know a general idea of what to expect as far as an offer price goes. Of course, working with a qualified Seattle, WA realtor who is able to help you navigate the transaction also makes a huge difference. You will need someone who is well versed in the local market, as well as someone who acts as your advocate in case things get complicated. In a competitive market like the one we are experiencing today, this is huge! So how is real estate in Seattle, WA doing? Let’s take a look!
The median sold price has gone up 13.3% at $620,000 while the average sold price went up 10.6% at $707,364. The average price per square foot for real estate in Seattle, WA is up 10.5% at $432. These are all details that are considered good news for sellers as it means their home value has likely increased. The average percentage of list price for Seattle, WA real estate is 104.5%. This stat indicates your negotiation power and currently, on average, homes for sale in Seattle, WA are not only getting full price, they are getting over. This is likely due to the fact that we are dealing with a month supply of 1. A Seattle, WA realtor looks for a 6 month supply in order to consider the market “balanced”. To further prove that point, new listings are down 2% while homes for sale in Seattle, WA are down 14.4%. Pending sales are up, but only by 2.1% and closed sales are up by 2.3%. The median days on market is 8 while the average days on market for Seattle, WA real estate is 23. This means homes for sale in Seattle, WA are moving fast, making it more important than ever to work with a qualified Seattle, WA realtor. If you are looking to buy or sell, give me a call. I would be happy to help!