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Homes for sale in Seattle, WA have a median listing home price of $825,000. There are 1765 active homes for sale in Seattle, WA, which spend an average of 44 days on the market. Some of the hottest neighborhoods near Seattle, WA are Broadway, Greenwood, Belltown, Wallingford, East Queen Anne. Homes in Seattle receive 2 offers on average and sell in around 15 days.
After we sell we have a much higher chance of buying our move up or move down without having to arrange for temporary housing. We are even seeing contingent sales start to get accepted again. Seattle has one of the nation’s fastest-cooling housing markets, with median sales prices down nearly 11% since April, according to the latest RE/MAX National Housing Report. East Queen Anne has a median listing price of $1.2M, making it the most expensive neighborhood in Seattle. Federal Way is the most affordable city in King County, with a median listing price of $588.8K.
News worthy of your time.
The average homes sell for about 2% below list price and go pending in around 13 days. The average homes sell for about 1% below list price and go pending in around 27 days. The average homes sell for about 1% below list price and go pending in around 15 days. There’s been a shift in price trends in Seattle’s housing market since 2000.
Every month we gather all the facts, data and statistics about the Seattle Housing Market and share them with you. We will discuss the 3 major factors in determining the strength of the market. Lastly, don't forget to check out the newest Seattle homes for sale. Interestingly, each neighborhood has a distinct feature, making the pricing for homes in the city different. For instance, the University District is a popular area for students.
Average Home Prices in Seattle: Value & Trends of Housing in the City
During the pandemic we literally had to make up a new adjective to label what was happening as we were seeing over 90% of new listings go pending in the first 30 days. In all 53 metro markets included in the analysis, there were fewer home sales compared to 2021. Overall, there were 30.7% fewer closings, 36.8% more homes listed and a national median price that was down 0.3% to $399,000 in October from September's $400,000. The average house price has never declined since the beginning of the last decades.
The average sale price of a home in Seattle was $810K last month, up 5.2% since last year. The average sale price per square foot in Seattle is $519, down 2.8% since last year. NWMLS brokers added 12,245 total active listings across the 26 counties, a whopping increase (about 165%) from the selection of a year ago when there were only 4,621 active listings. Measured by months of inventory, November’s supply, at 2.36 months, was the best since January 2019 when the overall selection reached 2.4 months of inventory. Seattle and the entire metro area market is so hot that it cannot shift to a complete buyer’s real estate market, for the long term. In a balanced real estate market, it would take about five to six months for the supply to dwindle to zero.
Price Trends
According to NeighborhoodScout.com,Seattle's real estate appreciated 137.11% over the last ten years. This represents a decrease of -42.14% from the same month a year ago. This represents a decrease of -44.10% from the same month a year ago. 83% of Seattle homebuyers searched to stay within the Seattle metropolitan area. Louisville homebuyers searched to move into Seattle more than any other metro followed by San Francisco and Los Angeles. Across the nation, 5% of homebuyers searched to move into Seattle from outside metros.
Seattle has a track record of being one of the best long-term real estate investments in the U.S. Inventory levels increased a bit but are still what we consider low inventory. This last year we hit all time record lows for the amount of homes for sale. When there are not many homes to buy and many people looking to buy homes that is simple Supply and Demand.
Zip Code Housing Markets
In Sep '22 - Nov '22, 17% of Seattle homebuyers searched to move out of Seattle, while 83% looked to stay within the metropolitan area. Find out the number of homebuyers searching to move in and out of Seattle, plus the top relocation destinations.
Using a metric known as months of inventory, it would take approximately 2.17 months to sell all the houses for sale in King County at the current rate of demand. The balanced market has four to six months, a level not seen in at least six years. The inventory continues to grow but the market in Snohomish County remains the most competitive in the Puget Sound housing market with months of supply being 1.89.
There were 693 homes sold in October this year, down from 1,200 last year. The median asking price for a home in King County was $840K in November 2022, which is an increase of 12 percent year over year. If the Median Listing Price is increasing, the market is likely “hot,” and homes will sell more quickly. In September, homes in King County sold for approximately the asking price.
Meanwhile, the median home sale price increased 3.7% over last October, the smallest uptick recorded in Seattle this year. King County's median price increased by 1.35% to $750,000. If you are considering a move up, a move down, or just want to sell your home… Months of inventory is still at below average. Homes are selling at a rapid pace, the Interest Rates are still at average rates.
Many of them didn't want to work remotely in small apartments during the epidemic, so they sought spacious homes with office areas. Most of them have the financial means to compete with other buyers and raise home selling prices. Can sell for around list price and go pending in around 9 days. Can sell for around list price and go pending in around 5 days.
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