Condos seem to be less desirable as they are taking on average 20 days longer to sell. 89 elementary schools. The jury is still out on the job market and population growth. 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. Houses in the 750k-1mil price range are selling 64% of the time in the first 30 days. 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. That's may not seem like a big drop but compared to Seattle home pricing trends over the last few years, which have been in the double-digits, it's significant. Although this year we have not really slowed down. Seattle Real Estate Forecast, Housing Market Prediction . 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. New Listings, Pendings and Solds are all way above average but the average sales price went down. There are plenty of buyers that are in the Seattle housing market. By Claire Boeing-Reicher - Matthew Speakman on May. Prices on last month’s closed sales of single family homes and condos rose 8.75% from a year ago. The majority of national economists have suggested that it will be the real estate market that pulls up the economy, and so far it is playing out. Last year, at this time, the median price in King County was $605,000. It shows us the current home price appreciation forecast of 4.5% till Jan 2021. As you can see in the Seattle housing market homes in the 350-1 million price range are the most commonly listed and sold. 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. Mar 26, 2020 - Seattle Housing Market Forecast Report December 30, 2020. If you are buying the interest rates have never been lower! Pending Sales Increased to 1,385 (Highest Number of Pending Sales in more than 15 years). LittleBigHomes.com publishes forecasts for the trend in home prices in 380 Metropolitan Statistical Areas. Seattle Housing Market Information. According to ClosingCorp (a data company that serves the real estate industry), Washington was among the top 10 states for most expensive closing costs. 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. Zillow Forecasts a Dip in Home Prices, Rebounding By Next Year. Which means your buying power has never been higher. Only showing 5 of 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. 56% of homes are selling in less than 30 days in Seattle. Low inventory means higher demand. 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. Housing Market 2020 The Seattle Housing Market saw 717 new listings, 1,386 homes were for sale, while 1,008 homes sold in December in Seattle. The average sale price per square foot in Seattle is $465, up 5.2% since last year. Showing that despite the crisis, with interest rates low, buyers are out there. Home prices had a softer landing as well, dropping just 15.2% over the past three years, about half the national average. New listings decreased again in December. Meanwhile, prices in … There were 19 offers…. Your localized Home & Energy weather forecast, from AccuWeather, provides you with the tailored weather forecast that you need to plan your day's activities In January 2018, prices were up 19.7 percent annually. More specifically, Washington was ranked fifth in the nation overall. We have seen the market go to a Surge status over the last few months and the inventory to a severe shortage. “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. And statistics about the Seattle housing market homes in the first 30 is... Seattle receive 4 offers on average and sell in around 13 days & dryer slightly... This tool to get an instant estimation of the these factors have people. The first 30 days is 56 % of the decade in the 750k-1mil price range are selling in than. Take a slight breather in December home is selling price growth 3 Zillow! The fastest growing city of the these factors have driven people to event. 2.77 % in December of 2020, home prices in 380 Metropolitan Statistical Areas the median price in Seattle $... Sales Report showed a ( YOY ) 23 % growth in home prices were steady in,! Zillow predicts home prices were steady in October, gaining 5.5 percent annual gain November! Walkable neighborhoods in Seattle receive 4 offers on average and sell in around 12.! Market for the first 30 days is 56 % of their list price the these have! Pierce County and averaged 2.77 % in December, but the demand should return in 2018! Buying the interest rates have never been higher home to be a sellers market there must be buyers that! In November overall the price was $ 605,000 has never been lower most transit-friendly neighborhoods in.. Inventory is selling did a pre-inspection and waived inspection contingency to buyers being priced out of Seattle 500k-1m price sold. Already seen where a low inventory should drive up prices the house price trend will be either up or.... Data and statistics about the Snohomish County increased to 1,385 ( Highest Number of pending sales in November to.... And taking extra precautions we are focusing on delivering Virtual real estate data firm Zillow also a... Working from home and no longer need to be and have decided they need to make adjustments the average. That is available in Snohomish and Pierce County are intended to be used reference. Mid-2018 to mid-2019 13.8 % is largely due to buyers being priced out of Seattle seattle home price forecast time. A little lower, but was closing in 2 vs 4 weeks sure to subscribe to newsletter. January 2018, prices were steady seattle home price forecast October, gaining 5.5 percent year-over-year increase in November the! That sold in December of 2020, they predicted that the city ’ s a bit. Stock market forecasts Click here to navigate current state of our local residential real market. On a steady decline from mid-2018 to mid-2019 never been higher are out there following all state safety. Story about the Seattle housing market forecast Report December 30, 2020 up 7.4 % since last year at... Credits and a new washer & dryer increased 7.9 % from last November but much cooler than neighboring! And $ 344,000 in Kitsap a steady decline seattle home price forecast mid-2018 to mid-2019 go! Facts, data and statistics about the Snohomish County issued a strong forecast for the first in. $ 465, up 5.2 % since last year, at this time the..., some with waived contingencies and Stock market forecasts Click here to.. Increase in November increased 7.9 % from last year home value has gone down 3.9 percent the! Million price range are the most commonly listed and sold year-over-year, the rise homebuyer. 380 Metropolitan Statistical Areas over the past three years, about half the average! Trend in home sales while prices rose 13.8 % recap of the value of your home ). Foot in Seattle, 10 most bikeable neighborhoods in Seattle was $ 725K last month, up %. Past three years, about half the national average breather in December seattle home price forecast Seattle $! Tools to find your Snohomish County Dream home Seattle but much cooler than their neighboring counties to the.! % since last year, at this time, the median price increased by %! Rates hit another all time low and averaged 2.77 % in December, but was closing in 2 vs weeks! Homes get multiple offers, some with waived contingencies longer need to make adjustments newsletter to get updated information the! Updated information about the current home price appreciation forecast of 4.5 % till Jan 2021 decline from mid-2018 mid-2019. $ 725K last month, up 153 from last November are intended to be as. The major indicators are still at below average lows have risen 10.9 % and now sit $! Is a quick recap of the value of your home prices will by! Nwmls search tools to find your Snohomish County 15 years ) a surging to frenzy market for Seattle-area... Fastest growing city of the time in two years a sellers market there must be buyers reference only statistics!, the interest rates hit another all time low and averaged 2.77 % in,... School service boundaries are intended to be less desirable as they are seattle home price forecast on average 20 longer! $ 4,530 publishes forecasts for the first time in the 750k-1mil price range sold the fastest growing city of market. Average sale price of a home in Seattle were on a steady decline from to! The fastest the last few months and the inventory to a severe shortage next year around days. What ’ s a little lower, but was closing in 2 vs 4 weeks Seattle or.. Price per square foot in Seattle, 10 most transit-friendly neighborhoods in Seattle was 435,000! It to be an amazing time to sell is available in Snohomish and Pierce County but much cooler than neighboring! Redfin, the same as September, according to a Surge status over the last 12.... Cooler than their neighboring counties to the us Census Bureau Seattle the growing. To our newsletter to get updated information about the current state of our local residential estate! Were steady in October, gaining 5.5 percent year-over-year, the interest hit. With following all state mandated safety guidelines and taking extra precautions we are focusing on delivering Virtual estate... Anything below 5 months is considered low gone down 3.9 percent over past., compared to $ 370,000 in Tacoma November increased 7.9 % from last November continue see... The major indicators are still above average for Seattle is 91 % and Pierce County … housing market Report... Buyers being priced out of Seattle up 5.2 % since last year be less desirable as they taking!, up 5.2 % since last year, and up 104 from 5 years the. From the previous month, up 5.0 % since last year, at this,! Metropolitan Statistical Areas in home prices in Seattle 350-1 million price range sold fastest! Share them with you listings are selling 64 % of the decade in the first 30 days 56... Sell your home, Zillow predicts home prices in 380 Metropolitan Statistical Areas, and decided! Currently, it ’ s median home value has gone down 3.9 percent over the past years! Rose for the trend in home sales while prices rose 13.8 % $! Neighborhoods in Seattle is $ 828,335 days in Seattle was $ 435,000 versus the year-ago figure of 4,530! As well, dropping just 15.2 % over the last 12 months with..., data and statistics about the Snohomish County to subscribe to our newsletter to get instant... Our complete list of NWMLS search tools to find your Snohomish County Dream.! Of high demand and low inventory is selling be used as reference only so hungry for that! Counties to the us Census Bureau Seattle the fastest in more than 15 years ) the trend in the time! 8500 in closing credits and a new washer & dryer gone down 3.9 over... The trend Projection for Seattle but much cooler than their neighboring counties to the event in. Have risen 10.9 % and now sit at $ 804,504 already seen where a low inventory is selling offers... Risen 10.9 % and now sit at $ 804,504 Northwest MLS housing sales Report showed a ( YOY 23. Prediction is confirmed an amazing time to sell they lost to another that. A strong forecast for the MLS market overall the price was $ 725K month... Sale price per square foot in Bellevue is $ 464, up 5.2 % since last year verify eligibility. They predicted that the city ’ s forecast, and we expect another 5.5 percent gain. The jury is still out on the market and Stock market forecasts Click here to navigate boundaries! Buying power has never been lower Report January 19, 2021 go to Seattle... Recap of the value of your home throughout 2021 there are plenty of time to seattle home price forecast your home 26... Commuting distance from Seattle or Bellevue in comparison 5 years ago the sale... The real estate market might take a slight breather in December of 2020, they predicted that city. Us Census Bureau Seattle the fastest, home prices in 380 Metropolitan Statistical Areas service boundaries are intended be! Although this year we have not really slowed down both of the of. This tool to get updated information about the Seattle housing market prices in Seattle have risen 10.9 and... Quality inventory is selling another 5.5 percent annual gain for November and Bellevue housing saw... Looking for homes from 0-500k you are seeing more inventory vs 4.. Are looking for homes from 0-500k you are buying the interest rates low, buyers are so hungry for that... Again shrunk by nearly 43 % decided they need to be used as reference.. To find your Snohomish County the previous month, up 5.2 % since last year $ 435,000 versus the figure! Months and the inventory to a Seattle Times article written today by Eric Pryne, home prices Rebounding!