Is Seattle, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Seattle has remained a Seller's Market.
Housing Prices in Seattle, WA
How much do homes in Seattle, WA cost?
Median Sold Price
$807,306
$563/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Seattle was $807,306 in March 2024, down 3.8% from last year, and the median price per square foot was $563.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $434.3K | $435.1K | 0.2% |
2 Bedrooms | $699.9K | $675K | -3.6% |
3 Bedrooms | $919.8K | $894.3K | -2.8% |
4 Bedrooms | $1.2M | $1.1M | -4.5% |
5+ Bedrooms | $1.5M | $1.4M | -6.5% |
Summary: Seattle housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes decreased by 6.5%.
Median Sold Price Compared To Nearby Cities
Seattle | $839.2K | $807.3K | -3.8% |
Burien | $681K | $647.2K | -5.0% |
Mercer Island | $2.3M | $2.1M | -5.1% |
Tukwila | $580K | $510K | -12.1% |
Medina | $5.3M | $4.2M | -19.5% |
Housing Supply in Seattle, WA
How many homes are available in Seattle, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2,200 | 2,600 | +18.2% |
Summary: The Seattle real estate market had 2,600 homes for sale in March 2024, a 18.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 325 | 394 | +21.2% |
2 Bedrooms | 701 | 827 | +18.0% |
3 Bedrooms | 636 | 747 | +17.5% |
4 Bedrooms | 354 | 413 | +16.7% |
5+ Bedrooms | 184 | 219 | +19.0% |
Summary: The Seattle housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.2%, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 17.5%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 19%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
656 | 735 | +12.0% |
Asking Price vs. Sold Price
241 Homes Were Sold
Under Asking
251 Homes Were Sold
At Asking
243 Homes Were Sold
Over Asking
Summary: A total of 735 homes were sold or pending in Seattle in March 2024, up by 12.0% month-over-month. Of the 735 sold homes, 33% were sold under asking, 34% were sold at asking, and 33% were sold over asking.
Days on Market for Seattle, WA
How long does it take to sell a home in Seattle, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
38 Days | 33 Days | -14.6% |
Summary: Homes in Seattle had an average of 33 days on market in Mar 2024, down by 14.6% compared to last year.
Breakdown of Home Sale Times
528 Homes Were Sold
Under 30 Days
117 Homes Were Sold
In 30 - 90 Days
90 Homes Were Sold
Over 90 Days
Summary: During March 2024, 735 homes were sold in Seattle; 72% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.