If you are selling or buying Seattle, WA homes for sale, you should know the current market trends of the areas you are looking in. When you do your research, you can find out sold prices, month supply and days on market which provides incredible insight that you can use as both a buyer and a seller. Asking your experienced Seattle, WA realtor is the best resource for this information. While our market is no longer an intensely competitive atmosphere, it is still considered to be one of the most expensive in the nation. The best way to achieve success for both parties is by using a realtor in Seattle, WA. 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, the average sold price for homes for sale in Seattle is up 11.5% at $813,344 from this time last year. The median sold price for Seattle, WA homes for sale is up 9.2% from this time last year at $709,000. The average percentage of list price, however, is down 1.3% from this time last year at 103%. This is also down from last month as well. With the market cooling, this is to be expected.
As far as inventory is concerned, the amount of new listings has increased 12.4% which is great for buyers. Homes for sale in Seattle, WA in general are also up 60.9%. Pending sales and closed sales are both down around 10%. The month supply for Seattle real estate is actually up 66.7% at 1.50. 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 20 for the average. 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!