Real EstateReal Estate, Investment, Second Home, Renters, Vacationreal estate, pricing, values July 16, 2020

Seattle Residential Statistics – June – Listings Sold vs. Asking Price

One measure of strength in the Seattle residential real estate market is the percentage of houses which sold above their listing price. For June 2020, 38% sold above with a 5% median increase from list price. This compares to 34% in May and 33% in June 2019.  Of course, 20% sold at list price and 20% sold below list price but these were down from 24% and 23%, respectively from May. And, houses that sold below list price only had a median 2% drop from list price. This reflects a strong market with low supply and robust demand. So, this is great for sellers and requires a skillful process for buyers.   See data below from Windermere Real Estate:

Note that 6 days on market for properties sold above list is fast. The ones that sold for below list is 20 days which, in a more long-term, normal market, would be expected for those that sold at list price.