In King County, inventory is increasing, pending sales are slowing down, and the median home price is higher than it was at this time last year. This is good news for buyer and sellers.
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As we make our way through June, what does our Seattle market look like for buyers and sellers?
As I’ve been saying the past couple of months, inventory is increasing and pending sales are slowing down ever so slightly. Last month in King County, the number of active listings increased by 35%. As a whole, the Northwest MLS has not seen this kind of spike in new listings since May 2008. During the same time, the number of pending sales decreased 2.5%.
With the increase in inventory we’re seeing, buyers have the opportunity to get the home they want without dealing with the frenzy they previously had to deal with.
What about sellers, though? Despite the increase in inventory and the slight dip in pending sales, the median home price is still 14% higher than it was at this time last year. We’re seeing great appreciation, but if you are a seller, you still need to make sure you work with an agent who has the knowledge to advise you in our shifting market.
As I always say, there are a lot of things you need to know to navigate a shifting market like ours, but the one thing you need to remember is to give me a call so I can advise you through the rest of the steps.
If you have any other questions about our current market or you have any other real estate needs, don’t hesitate to reach out to me. I’d love to help you.