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, with many nearby public transportation options. 1.3 months of inventory available in Seattle, 31 was the average days on market for a home to sell in Seattle, 100% was the average listing price vs. sales price percentage, $479 was the average price per square foot in Seattle, 56% of homes sold in the first 30 days in Seattle. Use this tool to get an instant estimation of the value of your home. The combination of high demand and low inventory is sure to make it so. We now have a sever shortage of inventory in Seattle at 1.3 months of supply but if we look to the north and south of Seattle we are seeing .4 months supply in both Snohomish and Pierce Counties. Interest Rates hit another all time low and averaged 2.77% in December. We should continue to see a surging to frenzy market for the foreseeable future. By Claire Boeing-Reicher - Matthew Speakman on May. Listings are selling at 100% of their list price. The average homes sell for around list price and go pending in around. In January 2018, prices were up 19.7 percent annually. Pending sales in November increased 7.9% from last November. City Population: 744,955 (latest estimate by the U.S. … We will discuss the 3 major factors in determining the strength of the market. After looking at the comparable homes and seeing that this home had been on the market for 25 days, we determined a good value for the home was about 2% under list. Showing that despite the crisis, with interest rates low, buyers are out there. As you can see from the table above anything below 5 months is considered low. Redfin reports that the average selling price of Seattle houses for sale is $675,000; meaning Seattle house prices are down 0.44 percent from last year. Be sure to subscribe to our newsletter to get updated information about the Snohomish County. If you’re a buyer you will want to position yourself to create a buyer advantage when competing with other buyers and walk in confidence when making an offer. The majority of national economists have suggested that it will be the real estate market that pulls up the economy, and so far it is playing out. According to ClosingCorp (a data company that serves the real estate industry), Washington was among the top 10 states for most expensive closing costs. Related: Seattle ranks #2 for price growth 3. Although this year we have not really slowed down. 1,386 homes were for sale during the month. The median home value has gone down 3.9 percent over the last 12 months. For a 5-year investment the profit is expected to be around +16.43% meaning that investing 100000 USD today may yield a profit of 116430 USD by 2026. In December, the company wrote: “Seattle home values have gone up 10.6% over the past year and Zillow predicts they will rise 8.7% in the next year.” The median house value for the city was around $783,000, as of late November 2020. We have already seen where a low inventory should drive up prices. The Seattle Real Estate Market Analysis For January 2021, Enjoy My Seattle Housing Market Report in 60 Seconds Video, “Over the past year, Washington’s ranking in economic growth and competitiveness rose from fifth highest to fourth highest in the nation, according to a September. 1 for much of the past two years. My buyers did a pre-inspection and waived inspection contingency. Median Home Value: $767,906 1-Year Appreciation Rate: +2.2% Median Home Value (1-Year Forecast):-1.7% Average Days On Market (Zillow): 42 Median Rent Price: $2,600 Price-To-Rent Ratio: 24.61 Seattle-Tacoma-Bellevue Unemployment Rate: 9.3% (latest estimate by the Bureau Of Labor Statistics). Both of the these factors have driven people to the more affordable and more space that is available in Snohomish and Pierce County. Market Stats, Neighborhoods, Video, Parks, Schools, Homes For Sale and more. According to the US Census Bureau Seattle the fastest growing city of the decade in the country. In addition, many people have converted to working from home and no longer need to be commuting distance from Seattle or Bellevue. The forecast for the trend in the Seattle housing market for the 12 months ending with the 3rd Quarter of 2019 is UP. We…, 10 most transit-friendly neighborhoods in Seattle, 10 most bikeable neighborhoods in Seattle, 10 most walkable neighborhoods in Seattle. The real estate data firm Zillow also issued a strong forecast for the Seattle-area housing market, going into 2021. Home prices were steady in October, gaining 5.5 percent year-over-year, the same as September, according to the Case-Shiller home price index. Homes in Seattle receive 4 offers on average and sell in around 13 days. As you can see in the Seattle housing market homes in the 350-1 million price range are the most commonly listed and sold. With 753,675 people, 323,446 houses or apartments, and a median cost of homes of $789,023, Seattle house prices are not only among the most expensive in Washington, Seattle real estate also is some of the most expensive in all of America. My clients offered an escalation up to $40k over asking price, waived their financing and appraisal, and asked for a short inspection contingency. The data tells a story about the current state of our local residential real estate market. The stay at home order continues to affect our industry in many ways, but it does not seem to be having a lasting impact on the Seattle housing market and residential real estate sales. by Mary Lee & Associates; Tuesday, May 15, 2018 9:53am; Marketplace; Low inventory and high buyer demand continue to push prices to record levels in the Seattle area. The House Price Trend will be either UP or DOWN. According to Zillow, home prices will rise by another 11.1% throughout 2021. The Seattle Housing Market saw 717 new listings, 1,386 homes were for sale, while 1,008 homes sold in December in Seattle. That number is usually closer to 30%. Home Prices are Forecast to Drop. Seattle-area home prices higher than last year for third month in a row Dec. 31, 2019 at 6:49 am Updated Dec. 31, 2019 at 4:27 pm Homes in Seattle’s Eastlake neighborhood. According to a Seattle Times article written today by Eric Pryne, home prices in Seattle rose for the first time in two years. The average sale price per square foot in Seattle is $464, up 5.0% since last year. Seller gave $8500 in closing credits and a new washer & dryer. Seattle Real Estate Forecast, Housing Market Prediction . The average sale price per square foot in Seattle is $465, up 5.2% since last year. In order for it to be a sellers market there must be buyers. Higher demand drives the price up. With only 1.3 months of supply if no other homes were listed in the next 40 days we would run out of houses to buy. “Over the past year, Washington’s ranking in economic growth and competitiveness rose from fifth highest to fourth highest in the nation, according to a September study prepared by the Washington State Economic and Revenue Forecast Council. Zillow Group, an online real estate tracking company, expects the median home price to drop by 2.6% from March 2019 to March 2020. People have had plenty of time to think about what they want their home to be and have decided they need to make adjustments. The major indicators are still above average for Seattle but much cooler than their neighboring counties to the north and south. Seattle’s brisk real estate market might take a slight breather in December, but the demand should return in January. This video is a quick recap of the 2020-year Seattle and Bellevue housing market and some predictions for 2021. The median list price per square foot in Bellevue is $474, which is higher than the Seattle-Tacoma-Bellevue Metro average of $285. The average sale price of a home in Seattle was $725K last month, up 7.4% since last year. Low inventory means higher demand. The jury is still out on the job market and population growth. The What’s happening in the market and where are prices and interest rates headed? As I have been reporting for the last 9 months that buyer indicators have never really declined, and we are continuing to see the seller indicators hit all time highs. To verify enrollment eligibility for a property, contact the school directly. School service boundaries are intended to be used as reference only. More specifically, Washington was ranked fifth in the nation overall. The median sales price last month was $639,000 in King and $344,000 in Kitsap. For more information about the Snohomish County Communities including; Homes For Sale, Detailed School Information, Detailed Park Information, Livability Reports, Maps, Restaurants, Grocery Stores, Government Offices, Churches, and Things To Do. Home; Housing Market Predictions . 4, 2020. Which means your buying power has never been higher. According to Redfin, the rise in homebuyer interest is largely due to buyers being priced out of Seattle. Seattle Housing Market Forecast Report January 19, 2021. Homes Details: Seattle Property Market Information Recommendations by the previous and the upcoming 36 months: buy or sell a home in Seattle?See the Seattle (Washington State, King County) property price forecasts, and buy/sell analysis based on the Housing Market and Property Investment report below. The gain was slightly above Zillow’s forecast, and we expect another 5.5 percent year-over-year increase in November. For 2018, Zillow predicts home prices and rents will continue to rise, just more slowly. In conjunction with the fact that homes priced in the $250-350k range are only selling in the first 30 days 28% of the time compared to 60% of the time for homes priced from $500k to $1m. With still amazingly low interest rates, and a low level inventory the last couple of years the Seattle real estate market should remain in the surge to frenzy status for the foreseeable future. As Seattle condos are falling out of favor the average sales price for a condo has went into a free fall, dropping $114K in the last 2 months. The median sale price for a home in Seattle is $595,000, compared to $370,000 in Tacoma. If you are considering a move up, a move down, or just want to sell your home… Months of inventory is still at well below average. January 2018, prices have been on the market go to a Surge status over the few... 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