Seattle Real Estate

Despite the negative news, the Greater Seattle real estate market is still relatively strong.  It is slowing down, but the sky is not falling.  Across the NWMLS, inventory is up to 13,405 listings (homes and condos) which is over double last June (6,358 listings).  Nevertheless, inventory is at 1...

Residential properties across the NWMLS (26 counties) sold for 107.8% over asking price in April.  King County is one of two counties where inventory is down from a year ago.  This is especially true for condos where inventory is down 35%.  Thus King County prices are up nearly 20% for single fam...

Luxury real estate market is extremely hot.   In the first quarter of the previous year there were 371 sales over $2 million in King County.  In the first quarter of 2022, there were 513 luxury home sales over $2 million.  Not only were there more sales, the average list price of those luxury hom...

The holiday season is historically slow time in the Seattle real estate market.  During COVID the last two years, the real estate market has not been as affected by  holidays as other years.  This November and last November are nearly identical in the number of transactions.  Both years the numbe...

Across the Northwest Multiple Listing Service inventory is down over 23% and prices are up 15% from last year. Prices in Seattle, while not as impressive, are still up 5.3%.  Other areas of King County have seen large gains. For example, Vashon prices are up 33% and the Eastside is up 17.3%.  The...

Real estate inventory continues to be low.  While new listings outpaced pending sales, it was very close.  In September there were 11,373 new listings with 11,318 pending sales.  That makes this September the second best September for pending sales in the last 20 years.  Therefore, overall real e...

NWMLS Real Estate ReportYear over year, closed sales are up 23% and pending sales have increased nearly 8% which has caused real estate inventory to decrease to 43% and prices to increase to 13.8%.  While inventory is down 43%, it varies per county by quite a bit.  For example, King County invent...

Update on Greater Seattle Condo MarketThe Seattle condo market has been steady in 2020. For example, through October 2020 the average Seattle condo price in Downtown and Belltown is just over $839,000. In contrast, the average condo in the area sold for over $863,000 in 2019, but that is only par...

Inventory Down Despite a Plethora of New ListingsThe Seattle real estate market is in King County which is one of the 23 counties that combine to make the Northwest Multiple Listing Service (NWMLS).  While interest rates are low on a national level, the local home inventory is the big story.  The...

Seattle is surrounded by water with Puget Sound to the west and Lake Washington to the east.  In addtion, Seattle is essentially cut in half by Portage Bay, Lake Union and the Ship Canal.  Seattle also has smaller lakes such as Green Lake, Bitter Lake, and Haller Lake. Finally, Seattle features t...