Seattle’s Real Estate market is slowing
The Seattle Real Estate market has shown signs of a slowdown for the third consecutive month. Inventories continue to increase and almost all Seattle neighborhoods showed price declines in August. Buyers and sellers are both watching the market closely for short term indicators. This balancing of our real estate market is healthy. However change can be uncomfortable, having a trusted advisor available to navigate you through the facts will benefit you significantly. There are many reasons our market will continue to lead the nation, I welcome the opportunity to assist.
Both median sales price and average price per square foot have declined for 3 consecutive months and for the first time in more than 4 years.
NWMLS Data: AUGUST 2018 statistics with % change from JULY 2018
MEDIAN SALES PRICE: $760,000 -5%
NUMBER OF HOMES FOR SALE: 1,012 +3%
NUMBER OF SOLD LISTINGS: 638 -13%
NUMBER OF PENDING SALES: 583 -8%
NUMBER OF NEW LISTINGS: 827 -11%
AVERAGE DAYS ON MARKET: 17 -6%