If you are buying or selling Seattle, WA homes for sale, you want to make sure you know what is happening in the market and the areas you are looking in. When you do your research and find out what the comparable sold prices are and figure out how fast things are moving and what the demand is, you gain incredible insight. These details help guide your strategy regardless of whether you are a buyer or a seller. Asking your experienced Seattle, WA realtor is a great way to get these answers as well. We have all the tools and real time data that gives us an accurate market analysis. So how is the Seattle real estate market looking? Let’s check it out!
While the Seattle real estate market has actually cooled, sellers still get good news this month knowing that prices are up. The average sold price for homes for sale in Seattle is up 13.2% at $805,331 from this time last year. Median sold price for Seattle, WA homes for sale is up 11.8% from this time last year at $700,750. These numbers are both up from last month. The average percentage of list price, however, is down from this time last year at 103.8%. Your realtor in Seattle, WA can further explain this number and how you can use it in your negotiations.
Good news for buyers in the inventory department! The amount of new listings is up 10.8% which is great for buyers! Homes for sale in Seattle, WA in general are also up 30.8%. Pending sales and closed sales are both down around 7.8%. The month supply for Seattle real estate is actually up 44.4% at 1.30. Which is up from both this time last year and last month. We need a 6 month supply to be considered balanced and anything less than 4 is a seller’s market, which we are clearly still in. Days on market are 8 for the median and 18 for the average. While the housing market is starting to cool a little bit, inventory is still low and homes may not be selling over night with multiple offers, but if it is priced fair enough, it will move quickly. 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!