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Market Report: Prices Continue to Climb

By May 9, 2018

Market Report

Now that April is behind us time to check in on what the real estate market did and it continues to be bad news for buyers with the median price continuing to climb and set new records. There is a glimmer of hope as inventory has increased slightly year-over-year. Over beers a group of my real estate agent friends thought that more inventory is likely on the way. One reason is that banks are finding ways to offer programs to enable sellers to buy without having to sell first, which should encourage turnover of more homes. If you need an intro to a lender who can help with that, let me know.

As for sellers, it continues to be an amazing time to sell and it will likely continue to be. Though, I do have many real estate agent friends, myself included, who sold places over the last month or two as we believe that while prices will continue to climb, it is unlikely we’ll continue to see the large appreciation gains that we already have, so why not sell now?

Single-family & townhomes:

  • 714 homes sold
    •  20.81% from last month
    •  6.73% from last year
  • $800,000 median list price
    •  2.57% from last month
    •  14.29% from last year
  • $460 median list price per square foot
    • +4.07% from last month
    •  +15.58% from last year
  • 104.6 average sale-to-list price ratio
    • Same as last month
    • -0.38% from last year
  • 895 new listings
    •  -3.76% from last month
    •  +6.67% from last year
  • 632 homes for sale
    •  +13.06% from last month
    • +8.40% from last year
  • 7 days is the average time homes have been on-market
    •  Same as last month
    • Same as last year

Condos:

  • 263 homes sold
    • +2.33% from last month
    • +21.76% from last year
  • $540,000 median list price
    • +1.52% from last month
    • +21.08% from last year
  • $650 median list price per square foot
    • -5.25% from last month
    •  +17.54% from last year
  • 102.5% average sale-to-list price ratio
    •  +0.69% from last month
    •  -2.19% from last year
  • 363 new listings
    • +19.02% from last month
    • +12.38%  from last year
  • 260 homes for sale
    • +20.37% from last month
    •  +34.02% from last year
  • 8 days is the average time homes have been on-market
    • +14.29% from last month
    • +14.29% from last year

What did other outlets have to say?

Seattle Times, As home prices hit new highs, cost of living overtakes traffic as worst part of living in Seattle area

Seattle Bubble: Case-Shiller: Seattle home prices rising fastest in the nation

PSBJ, $2.2 billion real estate tech company enters the Puget Sound region market

China’s new rules have resulted in a big dropoff in Puget Sound-area real estate investments

Single-family & Townhomes

Condos

I’m the founder and managing broker of Urban Living. I love lofts, floating homes, new construction and mid-century moderns but will help you buy or sell just about anything.

Get in touch to:

  • Understand the market
  • See homes for sale
  • Sell your home

Contact:

206-618-1600