Half of Seattle homes sell in 9 days or less!

SeattleHomes9DOM_HeaderPublished July 2015 by BizJournals.com

 

June was a busy month for homebuyers in Seattle. More than half of all the homes that hit the market last month were sold within nine days, according to data released from Seattle online real estate brokerage Redfin.

Denver was the only city that had homes sell faster – half of all homes went six days or less.

Interestingly, Tacoma had a big drop in the amount of inventory available for potential buyers. The amount of houses dropped 2.3 percent there in June.

Redfin shows the Seattle median home price in June was $415,000 – up 3.8 percent over last month and up 7.7 percent for the year. The Northwest Multiple Listing Service reported Monday that the median price for a single family home in Seattle was $575,000, up 15 percent over last year.

In Tacoma, home prices are up 10.7 percent year over year, according to Redin. The median price is $254,500, which is just below the average for all the major cities Redfin looks at. Tacoma also experienced a big jump in the number of homes that sold: 1,357 houses were sold, which is an increase of nearly 24 percent over the previous year, and a more than 13 percent jump from the previous month.

Nearly 5,000 homes sold in Seattle, which is a 14.5 percent increase over last year and a more than 10 percent jump over the previous month.

In both Tacoma and Seattle, new listings were down, which also led to a decline in inventory. The amount of houses on the market is down 27.5 percent in Seattle compared to last year, and down 24.5 percent in Tacoma.

Thinking of Selling?

If you are in the market to sell your home, the most important factor is the LACK OF AVAILABLE INVENTORY.  It means that if you list your home now, more buyers are competing over fewer listings.  You are likely to get multiple offers, driving up your asking price, helping your home to sell quickly.

Contact us today to discuss listing and selling your home. We can give you a Free Price Estimate and can create a Sell-and-Buy Strategy customized to fit your needs.

About Phillip Rodocker