Seattle Real Estate Update

If you are thinking of listing or buying Seattle homes for sale this year, it is crucial to work with an experienced Seattle realtor. When you align yourself with a local professional who knows the various neighborhoods and their current (and past) trends, you can feel confident that you have an advocate on your side who will use their experience to guide you through the process. 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!

As far as pricing goes, the median and average sold prices have gone up! The average sold price for Seattle homes for sale is up 12.5% at $739,037 and the median sold price for homes for sale in Seattle is up 15.2% at $651,000. Meanwhile the percentage of list price is up 1.7% at 105.1%. This number is used to determine your negotiation power when it comes to homes for sale in Seattle. The average price per square foot has gone up 10.6% at $450.

While prices have gone up, the available number of Seattle homes for sale has gone down by 16.7% at just under a 1,000. New listings are also down 3.1%, pendings are down 0.9% and closed sales are down 3.8%. The average days on market is at 18 while the median is 8. If you are buying, be prepared to make an offer fast. If you are a seller, prepare your listing appropriately ahead of time by packing up, de-cluttering and selling items so you don’t feel rushed as you move out.

If you are interested in buying Seattle real estate, working with an experienced Seattle realtor is truly going to make the difference. I exhaust all marketing efforts for my sellers. For my buyers, I help you through the process of crafting a competitive offer that sellers find enticing. With so many properties getting so many offers, you want yours to stand out in the crowd. For more information on this market, feel free to give me a call.

Posted on January 31, 2018 at 2:17 pm
Scott Shutes | Category: Uncategorized

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