Seattle Market Watch – August 2017

 

Prices Went Down for Single Family and UP for Condos.

Watch the Full Video Here.

A look at Single Family Homes:
  • Average sales price = $656,748
    • Down 2.2% from last month
    • Up 12% from August 2016
  • Median Sales Price = $718,500
    • Down 1.5% from July
  • Average Days on Market = 13
    • Up from 12 days last month
  • Homes sold for 105% of list price
    • Same as July
  • 722 homes sold in Seattle in March
    • Up 4% from July
    • Up 10% from August 2017
A look at condos:
  • Average sales price = $485,289
    • Up $1,593 from July (less than 1%)
    • An increase of 4.8% from August 2016
  • Median Sales Price = $471,000
    • Up 2% from July
  • Average Days on Market = 11
    • same as last month
  • Condos sold for 107% of list price
    • Up from 106% last month
  • 265 condos sold in Seattle in August
    • 23% fewer condos than sold this time last year
    • 8% more condos sold than last month
In summary:

Single family prices down for two months in a row…. Hmmm. Yet single family homes are still up 12% from this time last year.

  Condo prices back up.  Nothing noteworthy with that, condo prices fluctuate a lot more than single family prices do.

 With September being, historically, the highest volume home sales month of the year, I will wait until we can look at the September sales data until I make a prediction of we are finally stabilizing in prices or if we just saw a seasonal slump.

 

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