With Snohomish County already covered in our first blog post, it’s time to cover the Seattle housing market for August 2019 in King County. We hope you find this information useful. The Seattle housing market still remains one of the strongest in the states but there is finally some breathing room for buyers to find the house they’re looking for without facing multiple offers or needing to waive their inspection in some cases. All of this data is reliably sourced from the Northwest Multiple Listing Service.
Median Sales Price
The King County real estate market saw slightly less of a price increase than Snohomish county. The median sales price increased 1.9% YOY from $600,000 August 2018 to $619,000 August 2019. You can check out the Snohomish county housing market post here.
To further reinforce fall buyer confidence, current interest rates in Washington at the time of this post are 3.73% for a 30-year fixed, 3.21% for a 15-year fixed, and 4.13% for a 5/1 adjustable-rate mortgage (ARM). If you’re planning on buying a home in the near future, make sure you’re pre-qualified before you start shopping. We are happy to help with your home search and assist in finding the lender and loan type that’s right for you.
The Seattle housing market inventory raised substantially YOY from 2018-2019. This is good news for buyers; there were 6345 homes for sale last month up from 4262 in August 2018. A whopping 33% increase in inventory for King County.
Pending sales fell 3.79% YOY from August 2018 to the same time this year( August 2019: 32,561 August 2018: 33,845).
Closed sales in King County fell 8.69% from 35,143 in August 2018 to 32,088 in 2019.
Days on Market
The number of days Seattle area homes stayed on the market in August 2018 was an average of 8 days; as of August this year they’re averaging 14 days on the market. Great news for home buyers as they no longer have to face competing offers, write up personalized letters to sellers or make drastic decisions like waving an inspection. If you’re a buyer, we still recommend getting a pre-approval before you start your home search. We’d love the opportunity to help you find your new dream home or investment property.
Median Sales Price: August 2019: $612,000 August 2018: $600,000
Interest Rates: 3.73% for a 30-year fixed, 3.21% for a 15-year fixed, and 4.13% for a 5/1 ARM
Inventory: August 2019: 6,345 August 2018: 4262
Pending Sales: August 2019: 32,561 August 2018: 33,845
Closed Sales: August 2019: 32,088 August 2018: 35,143
Days on Market: August 2019: 14 August 2018: 8
We hope you find this seattle house market data helpful. King county is still a strong market but there is finally some breathing room for buyers who are looking to purchase here. If we can answer any questions for you, provide additional data sets that weren’t mentioned here or assist in your next housing endeavor contact us! We’d love to grab a coffee and discuss with you.
Reach us at 425-446-1494 or email at firstname.lastname@example.org