March Market Update – Seattle Houses & Condos

The house and condominium market in Seattle continues to be a seller’s market with low inventory and swift sales performance.

The graphs above show statistics for Seattle houses and condominiums for MARCH 2017. Click on any of the graphs or information above to see the full size. Questions, let us know!

– Price appreciation is being driven by low supply and high demand – Seattle months’ supply of inventory is less than 3 weeks at .5 months’ supply
– Closed median price at an all time high of $630,800, up 14% from a year ago
– 566 active listings as of 3/31/17, which is down 20.5% from the year before and 29.5% from two years before
– Scarcity has buyers paying above list price on 58% of the sales that closed in March
– What was the cost of waiting one year (March 2016 vs. March 2017) to buy in Seattle? $78,800 in median price, $6,565 per year in payment.

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