Seattle Housing Market Update September 2019
Seattle’s real estate market update is gathered using info from NWMLS’ InfoSparks in City of Seattle using data for residential and condominiums sold only.
In September, Seattle home prices remained steady at $675,000, a $5,000 increase from August 2019. Seattle’s median home price one year ago in September 2018 was $25,000 higher, at $700,000. So that represents a year-over-year decline. More new listings came on the market at 1,327, but only 792 went pending. This is normal, as September closed sales represents the sales activity of August and August tends to be a slower month of the year.
The average days a home spends on the market before going pending ticked up slightly to 37, and the months supply of homes stayed steady at 2.4. Months supply is the total months it would take to sell all homes on the market if no new homes were listed. Single-family homes are selling much faster than condos in the current market. Average price per square foot declined only a few dollars to $468.
The total sales volume for the month of September 2019 was $618.1 million, slightly up from September 2018’s $555 million.
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