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 conditions, you can feel confident knowing that you have expertise on your side as well as an advocate who can 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 13.2% at $750,749 and the median sold price for homes for sale in Seattle is up 15.8% at $666,520. The percentage of list price is up 2% at 105.4%. This number is used to determine your negotiation power when it comes to making/receiving offers on homes for sale in Seattle. The average price per square foot has gone up 11.4% at $458. This numbers are not only up from this time last year, but also last month.
While the financial aspect has gone up, the available number of Seattle homes for sale has gone down 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 at 17 while the median is 8. The month supply is also currently sitting at a 1. To put this in perspective, a balanced market needs 6 and anything less than 4 is a seller’s market which we are clearly in. 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, donating and selling items. This does a couple of things: it alleviates stress so you don’t feel rushed as you move out AND it also cleans up your home so that buyers don’t feel distracted by your belongings and decor. They can see the home and it’s potential as a property for them.
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 in an effort to attract the best offer. For my buyers, I help guide them through the process of crafting a competitive offer that sellers find enticing. With so many properties getting multiple offers, you want your bid to stand out in the crowd. For more information on this market, feel free to give me a call.