Seattle Market Watch – December 2017

Single Family Prices Dip and Condo Prices Jump!

Watch the video here.

A look at Single Family Homes:

  • Median Sales Price = $701,875
    • Down 3% from last month
    • Up 12% from 2016
  • Average Days on Market = 19
    • 2 days longer last month
  • Homes sold for 102% of list price
    • Down 1% from last month
  • 600 homes sold in Seattle in December
    • Down 13% from November
    • Up 10% from 2016

A look at condos:

  • Median Sales Price = $489,000
    • Up 9% from last month
    • Up14% from last year
  • Average Days on Market = 18
    • Same as last month
  • Condos sold for 103% of list price
    • Same as last month
  • 201 condos sold in Seattle in September
    • 8% more condos than sold this time last year
    • 15% less condos sold than last month
In summary:

If we look at it from a year-over-year perspective, prices are still up, up and away!  The good news is that we are seeing smaller annual price increases and even a monthly dip in single family home prices.  We are also seeing homes sell for closer to the list price and stay on the market a little longer.  It would be wishful thinking to assume we are going to have a market that is starting to stabilize…  This my friends, is a seasonal slump.  Gear up for another HOT Spring real estate market.

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