Seattle Market Stats

Hey everybody, it’s Seattle, it’s the middle of June and it is a wonderful real estate market for Buyers.

It’s sunny and beautiful out, and yes, it is a great market for Buyers right now. Interesting, we had a ton of inventory come on the market in May in Northwest Seattle, which is the area that we specialize in. We had 347 new listings. That is the most listings we’ve had in, oh my goodness, I think well over 10 years.

What’s interesting when looking at the stats- while we had a ton of new listings come on the market, the price per square foot actually went up as far as the sole price per square foot.

Because it’s a supply and demand and the more supply you have, typically the demand goes down. But also what’s interesting is, is not only did the price per square foot go up, what’s interesting is the months of inventory actually went up.

Normally, it would be the opposite, which is kind of interesting and what we mean by months of inventory, so in May, there was 1.3 months of inventory. So if no other homes came on the market, everything would sell in basically 1.3 months. And also too, the median price is basically the middle price line so the median in May was $780, so that means that half of the homes that sold were over $780K and the other half were under $780K.

It is a great market for Buyers. Interest rates are phenomenal. 4%, or in some cases, slightly under 4%, so yes, a Buyer’s market.

It’s also good market for Sellers, too. Things are selling. So anyhow, we hope you’ve enjoyed this update and if you’re ever curious about what’s going on, definitely give us a call.

NW Seattle Market Stats | BrennerHill
Connect With Us!

If you're looking to buy or sell a property connect with us today!

How Can We Help You?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
    (check all that apply)
  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *