Seattle, WA Real Estate Update

If you are looking for homes for sale in Seattle, WA, the two most important ways to get started are by finding a Seattle Realtor and understanding what is happening in the Seattle Real Estate Market. As a seller, you can price according to market value which ensures you have a shortened market time and attract a good offer. As a buyer, you can understand your position in the market and use that to craft a competitive offer. When you pick a qualified and professional Seattle Realtor to represent you, you can rest assured that no matter what side of the transaction you are on, you have an advocate that is equipped to guide you on the process. Additionally, a Seattle Realtor will be able to give you an update on the Seattle Real Estate Market. Details like days on market, average and median sold prices for homes for sale in Seattle, month supply and more can give you the details needed for a successful experience. So how is the Seattle Real Estate market doing? Let’s take a look!

As far as the average and median sold prices for homes for sale in Seattle goes, prices are up. The average is up 13.8% from this time last year at $787,105 and the median is up 16.3% at $698,000. These numbers are both up around $10,000 just from last month. The average percentage of list price is currently 104.9%. This number determines your negotiation power. Ask your realtor in Seattle how you can use this to your advantage but note that at the time this blog was published, Seattle homes for sale are going for over asking. However, for the first time in a while, this number has seen a slight decrease compared to last month.

As far as inventory goes, the amount of Seattle homes for sale is down 5.3% while the amount of new listings is actually up 2.6%. Closed sales are down 6.5% and pending sales are down 3.9%. This decrease in inventory is a result of a low month supply. This number is actually unchanged from this time last year but up slightly from last month’s 0.9 and is currently at a 1. To understand the importance of this number, this dictates what kind of market we are in. Anything 6 or over is considered balanced while anything less than 4 is a seller’s market. Your realtor in Seattle will be able to share what this number is as it changes with the market. Both the average and median days on market are down. The median days on market for Seattle homes for sale is 8 while the average is down to 17. This is also unchanged from last month.

If you are looking for a Seattle Realtor or Seattle homes for sale, feel free to give our team a call. We would be happy to help!