Uncategorized March 25, 2018

Seattle, Real Estate Update

If you are thinking of selling or buying Seattle homes for sale this year, it is crucial to work with an experienced Seattle realtor. We can’t stress this enough as we have mentioned it in almost every market blog. When you align yourself with a local professional who knows the various neighborhoods and their current trends, you can rest assured that you have an advocate on your side who can guide you through seamlessly. It is truly the best thing you can do for a successful Seattle real estate experience. Not only that, but we use current market stats such as days on market and sold prices to help both buyers and sellers when it comes to making a competitive offer as well as trying to attract a competitive offer. So how is the Seattle real estate market doing? Let’s take a look!

The good news for sellers is that median and average sold prices have increased! The average sold price for Seattle homes for sale is up 13.2% at $750,749 and the median sold price for homes for sale in Seattle is up 15.8% at $666,5200. These are both up compared to this time last year as well as just last month. The average price per square foot has gone up 11.4% at $458. Meanwhile the percentage of list price is up 2% at 105.4%. This number is used to determine your negotiation power when it comes to homes for sale in Seattle.

Now let’s take a look at the inventory. The available number of Seattle homes for sale has decreased by 14.3%. New listings are also down 1.7%, pendings are down 1.5% and closed sales are down 5.3%. The average days on market is 17 while the median is 8. The month supply is currently at a 1. A balanced market needs 6 months and anything less than 4 is considered a seller’s market. If you are a seller, prepare your listing appropriately ahead of time by packing up, de-cluttering, cleaning and selling items as the likelihood of your home moving quickly is high. If you are buying, be prepared to make an offer fast.

If you are interested in buying Seattle real estate, working with an experienced Seattle realtor is going to make the difference. For our sellers, we exhaust all marketing efforts in our effort to attract a qualified buyer and top dollar for your home. As a buyer, we are going to help you craft a competitive offer that sellers will find enticing. With so many properties getting so many offers, you want yours to stand out in the crowd. For more information, give us a call. We’d be happy to help!