Seattle, Real Estate Update

If you are interested in listing or 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 order 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. Knowing the current market conditions is also incredibly helpful as you are basing your negotiations around what is actually happening in the market. So how is the Seattle real estate market doing? Let’s take a look!

 

  • The average sold price for Seattle homes for sale is up 13.5% at $766,439.
  • The median sold price for homes for sale in Seattle is up 16.2% at $680,000.
  • The average price per square foot has gone up 12.4% at $470.
  • The percentage of list price is still at 105.4%, which it has been for the past few months. This number is used to determine your negotiation power when it comes to homes for sale in Seattle. It also informs us that homes, on average, are going for above asking.
  • Inventory has decreased across the board in almost all categories except new listings. Those have seen a 1% increase.
  • The available number of Seattle homes for sale has gone down by 8.9%.
  • Pendings are down 0.7% and closed sales are down 5%.
  • The average days on market is 17 while the median is 8, which hasn’t changed from last month. The month supply is still at a 1, also unchanged from the past several months. To understand the importance of this number, a balanced market needs 6 months and anything less than 4 is considered a seller’s market.

 

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. Want more information on real estate in Seattle? Give me a call. I would be happy to help!

Posted on May 20, 2018 at 11:03 pm
Scott Shutes | Category: Uncategorized

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