Seattle Real Estate Update

If you are in the market to list or buy homes for sale in Seattle, WA, it is crucial that you work with a Seattle Realtor who can help you understand the current conditions of the Seattle Real Estate Market. Working with an experienced and qualified Seattle realtor allows you to feel confident that you have an advocate equipped to not only guide you through the process, but also professionally represent you. Additionally, a Seattle Realtor can provide you with valuable information on the Seattle Real Estate Market which you can use in your quest to achieve your real estate goals. Days on market, average and median sold prices for homes for sale in Seattle and month supply can benefit both buyers and sellers. As a buyer, you can work with your realtor to craft a competitive offer that stands out in the stack as most homes are getting multiple offers above asking. Sellers, you can know how to price according to the current comparable solds which ensures shortened market times by attracting multiple quality offers. 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 me a call. I would be happy to help!