Uncategorized November 1, 2018

Seattle, WA Real Estate Update

If you are purchasing or listing Seattle, WA homes for sale, you should know what is happening in the market and 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. 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 with prices still going up. The average sold price for homes for sale in Seattle is up 12.5% at $809,443 from this time last year. Median sold price for Seattle, WA homes for sale is up 11.3% from this time last year at $707,000. These numbers are both up from last month as well. The average percentage of list price, however, is down 1.4% from this time last year at 103.4%.

Sellers aren’t the only ones who get good news. Buyers do too. The amount of new listings went up 12.3% which means more inventory to choose from. Homes for sale in Seattle, WA in general are also up 46%. Pending sales and closed sales are both down around 9.1%. The month supply for Seattle real estate is actually up 55.6% at 1.40. 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 19 for the average. While the housing market is cooling off, inventory is still low. Your best way to have success in a market that has some of the most expensive inventory in the nation is by using a realtor in Seattle, WA. 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!