Many homes get multiple offers, some with waived contingencies. 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. New Listings, Pendings and Solds are all way above average but the average sales price went down. School service boundaries are intended to be used as reference only. My buyers did a pre-inspection and waived inspection contingency. 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. They lost to another offer that was a little lower, but was closing in 2 vs 4 weeks. And housing inventory again shrunk by nearly 43%. Seller gave $8500 in closing credits and a new washer & dryer. It shows us the current home price appreciation forecast of 4.5% till Jan 2021. Last year, at this time, the median price in Seattle was $715,000. In December of 2020, they predicted that the city’s median home value would rise by 11.1% over the next year. The average sale price of a home in Seattle was $725K last month, up 7.4% since last year. According to ClosingCorp (a data company that serves the real estate industry), Washington was among the top 10 states for most expensive closing costs. LittleBigHomes.com publishes forecasts for the trend in home prices in 380 Metropolitan Statistical Areas. 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. City Population: 744,955 (latest estimate by the U.S. … Average Sales Price Decreased by $42k ($828,335), New Listings Decreased to 717 (333 more than last year), Sold Homes Decreased to 1,008 (153 more than last year), Pending Sales Decreased to 886 (312 more than last year), Percentage of Sold Price to List Price Decreased to 100%, Interest Rates Decreased to a Phenomenal 2.77%, Home … Higher demand drives the price up. 717 new listings went on the market this month. We have seen the market go to a Surge status over the last few months and the inventory to a severe shortage. 89 elementary schools. Housing Market and Stock Market Forecasts Click here to navigate. 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. Currently, it’s a little bit over $700,000. 1,008 homes were sold in Seattle last month. Based on our forecasts, a long-term increase is expected, the predicted price of an average home in the "Bellevue" area is 1095711 USD by 2026-01-31. Housing Market 2020 In January 2018, prices were up 19.7 percent annually. Most homes get multiple offers, often with waived contingencies. According to a Seattle Times article written today by Eric Pryne, home prices in Seattle rose for the first time in two years. 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. Related: Seattle home price forecast. The average sale price for Seattle homes is $828,335. We should continue to see a surging to frenzy market for the foreseeable future. The House Price Trend will be either UP or DOWN. Mar 26, 2020 - Seattle Housing Market Forecast Report December 30, 2020. The average sale price per square foot in Seattle is $464, up 5.0% since last year. Homes in Seattle receive 4 offers on average and sell in around 12 days. The average homes sell for around list price and go pending in around. The median sales price last month was $639,000 in King and $344,000 in Kitsap. We…, 10 most transit-friendly neighborhoods in Seattle, 10 most bikeable neighborhoods in Seattle, 10 most walkable neighborhoods in Seattle. But since then, prices have been on the rise, and have risen quite a bit. Mark Osaki • NW Prime Real Estate, LLC Keller Williams Downtown Sea, Russell Katz • Windermere RE Magnolia John L. Scott, Inc, Rebekah Truman • John L. Scott Westwood Windermere RE West Campus Inc, Brian Side • Coldwell Banker Bain Windermere Real Estate Midtown, Apryl Tolstoy • Keller Williams Eastside Lake & Company. Seattle's median price increased by 4.90% to $750,000. 56% of homes are selling in less than 30 days in Seattle. As you can see from the table above anything below 5 months is considered low. The forecast for the trend in the Seattle housing market for the 12 months ending with the 3rd Quarter of 2019 is UP. 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. Houses in the 750k-1mil price range are selling 64% of the time in the first 30 days. Zillow forecasts a steady 5.5 percent annual gain for November. Mar 12, 2020 - Seattle Housing Market Forecast Report December 30, 2020. Your localized Home & Energy weather forecast, from AccuWeather, provides you with the tailored weather forecast that you need to plan your day's activities That buyers are so hungry for inventory that lower quality inventory is selling. For a 5-year investment the profit is expected to be around +14.86% meaning that investing 100000 USD today may yield a profit of 114860 USD by 2026. The average sale price of a home in Seattle was $725K last month, up 7.4% since last year. 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. If you are selling the average sales price is at all time highs, and 56% of homes are selling in the first 30 days. , with many nearby public transportation options. Only showing 5 of The Seattle housing market prediction for prices? The Accuracy of the Trend Projection for Seattle is 91%. 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. After peaking in the summer of 2018, housing prices in Seattle were on a steady decline from mid-2018 to mid-2019. However, homes in the 500k-1m price range sold the fastest. Copyright ©2021 John L. Scott Ballard | Madrona Group | Sitemap | Privacy Policy | Best Lynnwood Real Estate Agents | Agent Resources | DMCA, 30+ Questions To Ask Real Estate Agent Pros, Home Prices, Interest Rates, Real Estate Statistics, Video and Charts, The Seattle Housing Market Analysis INFOGRAPHIC. With the interest rates at the Phenomenal rate of 2.77% a .05% decrease from last month (source: Mortgage News Daily). Listings are selling at 100% of their list price. For 2018, Zillow predicts home prices and rents will continue to rise, just more slowly. 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. study prepared by the Washington State Economic and Revenue Forecast Council, 30+ Questions To Ask A Real Estate Agent Today, Percentage of Homes That Go Pending In First 30 Days. Although this year we have not really slowed down. 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