After looking at the comparable homes and seeing that this home had been on the market for 25 days, we determined a good value for the home was about 2% under list. Seattle Housing Market Forecast. Your localized Home & Energy weather forecast, from AccuWeather, provides you with the tailored weather forecast that you need to plan your day's activities Now seems to be an amazing time to sell your home as we are still seeing historically low inventory and high prices. According to ClosingCorp (a data company that serves the real estate industry), Washington was among the top 10 states for most expensive closing costs. Seattle Housing Market Forecast Report January 19, 2021. There were 19 offers…. The Seattle housing market is very competitive. — most errands can be accomplished on foot. Mar 12, 2020 - Seattle Housing Market Forecast Report December 30, 2020. For 2018, Zillow predicts home prices and rents will continue to rise, just more slowly. Housing Market and Stock Market Forecasts Click here to navigate. Homes in Seattle receive 4 offers on average and sell in around 13 days. In comparison 5 years ago the average sales price was $617,574. The Seattle Housing Market saw 717 new listings, 1,386 homes were for sale, while 1,008 homes sold in December in Seattle. With the interest rates at the Phenomenal rate of 2.77% a .05% decrease from last month (source: Mortgage News Daily). We should continue to see a surging to frenzy market for the foreseeable future. Pending Sales Increased to 1,385 (Highest Number of Pending Sales in more than 15 years). , with many nearby public transportation options. The average sale price of a home in Seattle was $725K last month, up 7.4% since last year. 1.3 months of inventory available in Seattle, 31 was the average days on market for a home to sell in Seattle, 100% was the average listing price vs. sales price percentage, $479 was the average price per square foot in Seattle, 56% of homes sold in the first 30 days in Seattle. In December of 2020, they predicted that the city’s median home value would rise by 11.1% over the next year. They lost to another offer that was a little lower, but was closing in 2 vs 4 weeks. Based on our forecasts, a long-term increase is expected, the predicted price of an average home in the "Bellevue" area is 1095711 USD by 2026-01-31. School service boundaries are intended to be used as reference only. Listings are selling at 100% of their list price. The House Price Trend will be either UP or DOWN. Because there are less homes for sale and there are still many buyers trying to buy… the homes that do list are usually selling very fast. According to Redfin, the rise in homebuyer interest is largely due to buyers being priced out of Seattle. The average days on market increased 31 days, the percentage of sale price to listing price decreased slightly to 100%, and the average sales price decreased. Home buyers across the state pay an average of $4,530. If you are selling the average sales price is at all time highs, and 56% of homes are selling in the first 30 days. “Over the past year, Washington’s ranking in economic growth and competitiveness rose from fifth highest to fourth highest in the nation, according to a September study prepared by the Washington State Economic and Revenue Forecast Council. In 2017, Seattle home prices hit a record high of $700,000 within the city limits in April and the median rent in the same area hit $2,000 per month. Over the course of 2020, home prices in Seattle have risen 10.9% and now sit at $804,504. Home prices were steady in October, gaining 5.5 percent year-over-year, the same as September, according to the Case-Shiller home price index. Related: Seattle home price forecast. The median sales price last month was $639,000 in King and $344,000 in Kitsap. Separate ESD data reported that Washington added 52,500 jobs between October 2018 and October 2019, with 41,600 of those jobs in the Seattle metro area.”(Seattle Times). Meanwhile, prices in … The Based on our forecasts, a long-term increase is expected, the predicted price of an average home in the "Seattle" area is 856077 USD by 2026-01-31. 717 new listings went on the market this month. For a 5-year investment the profit is expected to be around +14.86% meaning that investing 100000 USD today may yield a profit of 114860 USD by 2026. Many homes get multiple offers, some with waived contingencies. New Listings, Pendings and Solds are all way above average but the average sales price went down. The average sale price for Seattle homes is $828,335. To verify enrollment eligibility for a property, contact the school directly. 4, 2020. The percentage of homes that sold in the first 30 days is 56%. Use this tool to get an instant estimation of the value of your home. We…, 10 most transit-friendly neighborhoods in Seattle, 10 most bikeable neighborhoods in Seattle, 10 most walkable neighborhoods in Seattle. The gain was slightly above Zillow’s forecast, and we expect another 5.5 percent year-over-year increase in November. The average sale price per square foot in Seattle is $464, up 5.0% since last year. With still amazingly low interest rates, and a low level inventory the last couple of years the Seattle real estate market should remain in the surge to frenzy status for the foreseeable future. Both of the these factors have driven people to the more affordable and more space that is available in Snohomish and Pierce County. According to a Seattle Times article written today by Eric Pryne, home prices in Seattle rose for the first time in two years. Which means your buying power has never been higher. The Seattle housing market prediction for prices? Although this year we have not really slowed down. The Accuracy of the Trend Projection for Seattle is 91%. Every month we gather all the facts, data and statistics about the Seattle Housing Market and share them with you. We can consult with you to be up-to-date with current market intensity and pricing, get pre-approved or fully underwritten through a lender, and receive email/text notification of newly listed properties. As you can see in the Seattle housing market homes in the 350-1 million price range are the most commonly listed and sold. In order for it to be a sellers market there must be buyers. Seattle Real Estate Market 2020 Overview. Market Stats, Neighborhoods, Video, Parks, Schools, Homes For Sale and more. The stay at home order continues to affect our industry in many ways, but it does not seem to be having a lasting impact on the Seattle housing market and residential real estate sales. The average home is selling in just 31 days. This video is a quick recap of the 2020-year Seattle and Bellevue housing market and some predictions for 2021. Median Home Value: $767,906 1-Year Appreciation Rate: +2.2% Median Home Value (1-Year Forecast):-1.7% Average Days On Market (Zillow): 42 Median Rent Price: $2,600 Price-To-Rent Ratio: 24.61 Seattle-Tacoma-Bellevue Unemployment Rate: 9.3% (latest estimate by the Bureau Of Labor Statistics). In conjunction with the fact that homes priced in the $250-350k range are only selling in the first 30 days 28% of the time compared to 60% of the time for homes priced from $500k to $1m. Mar 26, 2020 - Seattle Housing Market Forecast Report December 30, 2020. Condos seem to be less desirable as they are taking on average 20 days longer to sell. The Seattle Real Estate Market Analysis For January 2021, Enjoy My Seattle Housing Market Report in 60 Seconds Video, “Over the past year, Washington’s ranking in economic growth and competitiveness rose from fifth highest to fourth highest in the nation, according to a September. Prices on last month’s closed sales of single family homes and condos rose 8.75% from a year ago. With only 1.3 months of supply if no other homes were listed in the next 40 days we would run out of houses to buy. The average sale price per square foot in Seattle is $465, up 5.2% since last year. Most homes get multiple offers, often with waived contingencies. King County's median price increased by 13.22% to $685,000. Seattle's median price increased by 4.90% to $750,000. New listings decreased again in December. In January 2018, prices were up 19.7 percent annually. Seller gave $8500 in closing credits and a new washer & dryer. The median price of an average house in Seattle was 745295 USD on 2021-01-20. Showing that despite the crisis, with interest rates low, buyers are out there. If you’re a buyer you will want to position yourself to create a buyer advantage when competing with other buyers and walk in confidence when making an offer. If you are buying the interest rates have never been lower! Copyright ©2021 John L. Scott Ballard | Madrona Group | Sitemap | Privacy Policy | Best Lynnwood Real Estate Agents | Agent Resources | DMCA, 30+ Questions To Ask Real Estate Agent Pros, Home Prices, Interest Rates, Real Estate Statistics, Video and Charts, The Seattle Housing Market Analysis INFOGRAPHIC. The data tells a story about the current state of our local residential real estate market. However, homes in the 500k-1m price range sold the fastest. Home; Housing Market Predictions . In today’s instant-response market, it’s key to ensure you’re ready to act when the timing is right and make sure you are Buyer Ready Day One. How We Are Navigating Business During The Crisis. Seattle-area home prices higher than last year for third month in a row Dec. 31, 2019 at 6:49 am Updated Dec. 31, 2019 at 4:27 pm Homes in Seattle’s Eastlake neighborhood. The average homes sell for around list price and go pending in around. As I have been reporting for the last 9 months that buyer indicators have never really declined, and we are continuing to see the seller indicators hit all time highs. The median list price per square foot in Bellevue is $474, which is higher than the Seattle-Tacoma-Bellevue Metro average of $285. According to the US Census Bureau Seattle the fastest growing city of the decade in the country. But since then, prices have been on the rise, and have risen quite a bit. 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