Seattle Housing Market Update for February 2020

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.

The 2020 Seattle housing market continues to heat up. In February, even though the median home price in Seattle was slightly down, King County was up by a lot. The median sales price of a home in King County was $619,000 – about $20,000 higher than last February. In Seattle, the price declined slightly from $670K in January to $660K in February. However, that doesn’t mean prices are going down. The price per square foot was up sharply, from $477 in January to $502 in February. The median days on market also plummeted to 11 from 32. That means properties are going from taking roughly a month before going pending to going pending in less than 2 weeks. Another sign we are switching back to a hot seller’s market.

Other Stats:

• New Listings: 1,025 ↑
• Pending Sales: 907 ↑↑
• Closed Sales: 673 ↑
• Median Days on Market: 11 ↓↓
• Months of Supply: 1 (same)
• Percent of List Price: 100% ↑
• Average Price Per Sq Ft: $502 ↑↑
• Dollar Volume: $493.5 Million ↑

Key:
↑ = Up Slightly
↑↑ = Up Sharply
↓ = Down Slightly
↓↓ = Down Sharply

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