If you are thinking of buying or selling Seattle, WA homes for sale, knowing the current market conditions can have a big impact on your experience as both a seller and a buyer. As a seller, knowing things like the average and median sold price will help guide you in picking an appropriate listing price. As a buyer, you get an idea of what price Seattle, WA homes for sale are moving at. In addition to knowing how to work that magic number regardless of what side of the deal you are on, you get other information like days on market, price per square foot, etc. Of course, working with a qualified Seattle, WA realtor can also give you this information while tailoring it to your specific needs. Additionally, we can guide you throughout the entire transaction which makes a profound difference. You will need someone who is well versed in the local market, as well as someone who acts as your advocate in case things get complicated. Which is crucial in a competitive market like Seattle. So how are homes for sale in Seattle, WA doing? Let’s take a look!
According to the latest market report, Seattle real estate is more affordable compared to Bellevue, WA real estate. The median and average sold prices for Seattle, WA homes for sale are still up. However, they are not at the level that Bellevue is. Yet. Currently, the median sold price is up 18.4% at $675,000. The average sold price for homes for sale in Seattle, WA are up 18% at $764,508. The price per square foot is also up 18.3% at $465. The good news for buyers is that new listings are up 16.9%. Although homes for sale in Seattle, WA are down 16.1%. Pending sales are up 9.4% while closed sales are down 6.8%. The days on market are pretty close to Bellevue, WA real estate though. Median is 8 and average is 20. Month supply is also the same as Bellevue, WA real estate at 0.80. A balanced market needs 6 months and anything less than 4 is considered a sellers market. With high demand and low inventory, it is more important than ever that you work with a qualified Seattle, WA realtor. If you want more information on both the Seattle & Bellevue markets, give me a call. I can provide custom market reports on specific neighborhoods and areas.