Local Market Update – February by the Numbers

Seattle saw record-high prices last month, along with low inventory. If you’re looking to break into the market as a buyer, or make the most of it as a seller, feel free to reach out to me.

See below for information on the whole region.

As we head into the traditionally busy spring season for homebuying, the market seems to be keeping up its intense pace, with low inventory across the board and multiple offers the norm. A marginal increase in listings across King and Snohomish counties has done little to counter fierce buyer demand, with certain areas on the Eastside virtually unable to sustain new inventory. With these trends likely to continue, buyers will need to be aggressive and ready to compete.

Prices continue to rise across Seattle and the Eastside, with the median sold price for single-family homes on the Eastside increasing to an eye-watering $1,697,500 in February — a 34% year-over-year increase. Seattle saw a 16% year-over-year increase last month, with a median sold price of $925,000 for single-family homes. These median home prices for the Eastside and Seattle were all-time record highs.

…click here to read the rest of the article and see the accompanying graphs…

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