Market Update: Prices Up, Listings Up
With March a few days behind us, time to check in and see what the residential real estate market (single-family and condos) did.
For buyers, the good news is that we saw a big uptick in the number of new listings with a 50% jump in new listings from Feburary (1,214 versus 808). The bad news is that the median sales price is now $623,500 up 15.5% from last year at the same time.
For sellers, while you have more competition, inventory is still at an all-time low so the market continues to be hot. See some war stories from last week if you want some anecdotal evidence it is a great time to sell.
What do other outlets have to say about March?
- Seattle Times, Seattle home prices hit $700,000 for first time after doubling in five years
- Seattle Bubble, March Stats Preview: Sales Just As Strong As Last Year
