APRIL 2016 was another RECORD SETTING MONTH FOR SEATTLE REAL ESTATE!!!
The median price of a Seattle home is now $ 624,975. This is a new record.
There were 495 PENDING sales in April | 680 transactions CLOSED | There were 298 ACTIVE listings in the Seattle real estate market.
There is .6 of a month supply of inventory | The .6 ratio is a strong SELLER’S MARKET INDICATOR.Any ratio under 3.0 is a seller’s market indicator. Any ratio between 3.0 and 6.0 is a neutral market indicator. Any ratio over 6.0 is a buyer’s market indicator.
The story remains LACK OF INVENTORY. EPIC RECORD SETTING LOW INVENTORY!!!
In the month of April, the AVERAGE list price vs sales price for Seattle was 106%. So the average home sold for 6% over the asking price.
The AVERAGE days on market for a Seattle home was 8 days before they accepted an offer.
And real estate is always LOCALIZED. What I mean is that CERTAIN areas are moving better than other areas. Let’s take a look at list price vs sales prices for some different neighborhoods in Seattle for the month of April:
North Seattle 108%
North Seattle Townhomes 109%
Licton Springs Townhomes 115%
North Seattle Condos 106%
And here are list to sales price ratios for cities near Seattle:
Mountlake Terrace 116%
King County 104% I
f you have any questions or if I can be of any assistance please contact me.