Market Report: Median Price Sets New High
Now that January is behind us time to check in on what the real estate market did – and again, it doesn’t look good for buyers! For single-family homes and townhomes, the median price is a record setting $745,444. The previous high was $735,000 last June.
Here’s a look at the three primary indicators, which we’ve broken out by single-family and townhomes versus condos.
Single-family & townhomes:
- The median price was $745k, up, $41k from December, and up 20% from $617,500 from January 2017.
- We saw only 538 new listings (up from 271 in December). Last January, we saw 557 new listings.
- The number of homes for sale at the end of January was 410 (down from 359 in December)
- The median price was $490,000, down $6,000 from December so it isn’t all bad news! But that is up 11% from January 2017’s $440,000
- We 224 new condo listings, up from 82 in December. Last January we saw 199.
- The number of condos for sale was 150, up from 115 in December.
What did other outlets have to say?
- Seattle Times, King County housing market kicks off 2018 even hotter than before, as Seattle breaks price record
- Seattle Bubble, : Closed sales plummet, listings still scarce