Seattle Market Watch – March 2018

Single Family Homes AND Condos See Price Increases

** Remember when I did my 2018 real estate predictions blog?  The price of a single family home in the City of Seattle has already surpassed what I anticipated it to be at the end of 2018.  I am wrong EVERY year!

Watch the Video Here

Single Family Homes:

Median Sales Price Versus Average Sales Price:

The Median Sales price last month was $790,000.  The average sales price was $865,812.  Our average sales price is skewed by the 37 homes that sold in March for $1.5 million or more.

Just The Facts:

  • Median Sales Price = $790,000
    • Up 4% from February
    • Up 15% from March 2017
  • Average Days on Market = 16
    • Same as last month
  • Homes sold for 107% of list price
    • 1% less than last month
  • 597 homes sold in Seattle in March
    • Up 35% from last month
    • Up 3% from 2017
  • Most expensive home of the month = $3,493,333
  • Least expensive home of the month = $155,000

Condos:

Median Sales Price Versus Average Sales Price:

The Median Sales price last month was $529,900.  The average sales price was $617,116.   Our average sales price is higher due to the 22 condos that sold for over $1 million last month.

Just The Facts:

  • Median Sales Price = $529,900
    • Up 3% from February
    • Up 16% from March 2017
  • Average Days on Market = 17
    • 2 days shorter than last month
  • Condos sold for 105% of list price
    • 3% less than last month
  • 245 condos sold in Seattle in February
    • Up 40% from last month
    • Up 16% from 2017
  • Most expensive condo of the month = $3,500,000
  • Least expensive condo of the month = $159,950

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