Seattle Real Estate Market Stats
Updated June 2023
The numbers for what the Seattle single-family and townhome real estate market did in May are out. The headline is that the median price is now $885,000, down 11% year-over-year but up 1.4% month-over-month. Prices hit a low in January of $800,000, so prices have jumped back up but they’re still down from the peak we saw in April of 2022.
Looking for condo stats? Check out our Seattle condo market stats page.
Seattle Median Sales Price
(Single-Family Homes & Townhouses)
What’s the median sales price of a single-family home in Seattle?
As noted above, the median sales price of a single-family home increased to $885,000, slowly getting us back up to the numbers we saw in the spring of last year. The median price is now down about 11% year-over-year, but is up 1.4% month-over-month. I expect we’ll continue to see prices increase as we get further into the summer months.
Seattle Median Sales Price Per Square Foot
(SFH & Townhouses)
Seattle New Listings
How many new listings did we see in Seattle in May?
We saw 826 new listings in May, up from April’s 752. Last May we saw 1,050 new listings. It isn’t surprising to see new listings jump at the start of the year. But buyers should be patient, we’ll likely see more listings in the coming months.
Seattle Pending Sales
How many homes went under contract or pending in Seattle in May?
701 homes went pending in Seattle in May, up from 598 in April. In May 2022, 886 homes went pending, so this is a year-over-year decline but a nice increase from January, which was the slowest January since 2018!
Number of Seattle Homes For Sale
How many homes were for sale in Seattle at the end of May?
There were 761 homes for sale on the last day of May, up slightly from 756 for sale at the end of April. At the end of May 2022 there were 585 homes for sale, so inventory has significantly increased year-over-year, but that was an exceptional year, we now have a much more normal amount of homes for sale. I expect that we’ll continue to see the number of homes for sale increase.
Seattle Median Days on Market
The median days on market in Seattle was 6 for May. No change from April! I suspect we saw the peak for days on market in January.
Seattle Median Percent of Last List Price
The median percent of last list price was 100.0%.
Seattle Closed Sales
How many homes closed in Seattle in May?
633 homes closed in Seattle in May, up from 542 in April. Last year, 841 homes closed in May.
Seattle Months of Supply of Inventory (Pending)
Months of supply, a measure of how long it’d take to sell all the homes for sale if no new homes hit the market stayed at 1.4 this month. A balanced market is considered to be 3 months, so we’re still far from a balanced market.