NWMLS Real Estate Report
Year over year, closed sales are up 23% and pending sales have increased nearly 8% which has caused real estate inventory to decrease to 43% and prices to increase to 13.8%. While inventory is down 43%, it varies per county by quite a bit. For example, King County inventory is down “only” 18% from last November, while many such as Snohomish counties are all down a minimum of 63%
This November, 848 Seattle homes sold for a median sales price of nearly $935,000 compared to the 683 Seattle homes that sold for an average of just over $858,000. Thus, Seattle sales saw an increase of sales of 24% and an increase of home prices of 9%. Housing inventory continues to struggle to keep up with the number of Seattle home sales so high. Seattle luxury real estate sales are also up with almost twice as many homes that sold this November (35 sales) compared to last year (19 sales) in the same month. The real estate market remains resilient despite any negative issues (ex COVID).
Seattle Waterfront Homes
Fourteen Seattle waterfront homes sold this November. The most expensive waterfront home was in Sand Point that sold for $4.1 million. Of the 14 waterfront homes, 7 were houseboats. Last November, 11 Seattle waterfront homes sold of which 4 were Seattle houseboats. The scarcity of Seattle waterfront makes it so there are never going to be a huge fluctuation in the number of sales, still waterfront home sales remain solid.
Seattle Condo Market
Seattle condo inventory is up 61% from a year ago. Nevertheless, Seattle condo prices are up 8.7% for the year. In November, 216 Seattle condos sold for an average price of just under $585,000 or $566/sq ft. Last November, 171 Seattle condos sold for an average sales price of nearly $525,000.
The Seattle Real Estate Market
Click the link for additional information on the November real estate market. To get up-to-date information, contact one of Ewing and Clark’s Seattle real estate brokers. In addition feel free to search the lasting Seattle listings here. Ewing and Clark and its real estate brokers have been providing exceptional real estate service to Greater Seattle since 1900.