Seattle Real Estate Update

If you are thinking of buying or selling Seattle, WA homes for sale, knowing what is happening in the current market can have a big impact on your success as both a seller and a buyer. As a seller, knowing what the average and median sold price is will help guide you in picking an appropriate price to list at. As a buyer, you get an idea of what you could spend on Seattle, WA homes for sale. Additionally, you can find out days on market, percentage of list price, month supply and price per square foot. All of these are excellent details you can use when it comes to picking an offer as well as making one. Of course, a qualified Seattle, WA realtor is the one to give you this info and they have the ability to tailor it to your specific needs as well as specific neighborhoods. During such a tight market, you want to make sure you have expertise and professionalism on your side. Buying and selling Seattle real estate is not as cut and dry as simply making or accepting an offer. There are so many details that go into both aspects that working with someone well versed in your local market who also acts as you advocate is crucial for a good experience. 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 15.2% at $651,000. The average sold price for homes for sale in Seattle, WA are up 12.5% at $739,035. The price per square foot is also up 10.6% at $450.  While these numbers are all up compared to this time last year, they are actually down a little bit compared to last month. Which is great news for buyers as this could add a little extra leeway in their buying budget. New listings are down 3.1%, homes for sale in Seattle are down 17.3%, pending sales are down 0.7% while closed sales are down 4.1%. Median days on market are currently at 8 while the median is at 18. Month supply is up from 0.80 last month to a 1. While this is still incredibly low, anything new is a relief to buyers. Keep in mind a balanced market needs a month supply of 6 so we have a ways to go.

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 Seattle, WA homes for sale or the Seattle real estate market in general, give me a call. I can provide custom market reports on specific neighborhoods and areas.

Posted on January 8, 2018 at 8:35 pm
Britt Wibmer | Category: Britts Picks

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