Sellers Bring Down Sales Prices as Seattle Market Continues to Cool

For the first time in years, homes in the Seattle area are spending weeks—rather than just days—on the market, bidding wars become an exception to the rule, and sellers are bringing down sales prices to attract buyers in a cooling market. As Seattle Times reports, July 2018 was the first time in four years that the market began to lean in favor of the buyer, as inventory continues to increase, this time at a staggering 44-percent rate in King County.

Seattle Tops the Nation in Home Price Growth for 18th Consecutive Month

Seattle has now topped the nation in home price growth on the S&P/CoreLogic Case-Shiller Home Price Index for eighteen months in gains that are once again widening on a monthly basis. Despite slipping slightly last summer, February’s monthly increase exceeded January’s by 1.74 percent, representing an average price increase of 1% per month over the last twelve months.

Market UpdateAaron FreemanMay 21, 2018Ballard, Greenlake, Los Angeles, Market Report, Market Trends, North Seattle, Puget Sound, RealogicsSIR, S&P Case-Shiller, San Francisco, Seattle, Southeast Seattle, West Seattle, William HillisComment

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Aaron Freeman