Uncategorized June 1, 2018

Seattle 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. 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. As a buyer, you can understand your position in the market and use that to craft an attractive and competitive offer. As a seller, you can price according to market value which ensures you have a shortened market time and get a good offer. 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 $777,163 and the median is up 16% at $690,000. To understand how much negotiation room you have, the average percentage of list price is currently 105.3%. 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 not only for asking, but over.

As far as inventory goes, the amount of Seattle homes for sale is down 11.7% while the amount of new listings is down 1.9%. Closed sales are down 6.9% and pending sales are down 2.4%. This decrease in inventory is a result of a low month supply. Real Estate in Seattle has been making headlines for some time thanks to high demand and record low properties for sale. This number is down from this time last year by 1.2% at 0.9. 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.

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!