Is Seattle, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$799,968
$561/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Seattle was $799,968 in February 2024, down 5.9% from last year, and the median price per square foot was $561.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $438K | $430.4K | -1.7% |
2 Bedrooms | $705.2K | $670.1K | -5.0% |
3 Bedrooms | $929.1K | $887.4K | -4.5% |
4 Bedrooms | $1.2M | $1.1M | -6.7% |
5+ Bedrooms | $1.5M | $1.4M | -6.0% |
Summary: Seattle housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.7%, 2 bedroom homes decreased by 5%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 6%.
Median Sold Price Compared To Nearby Cities
Burien | $686K | $649.6K | -5.3% |
Seattle | $849.8K | $799.9K | -5.9% |
Mercer Island | $2.3M | $2.1M | -8.3% |
Tukwila | $580K | $527.2K | -9.1% |
Medina | $5.3M | $4.2M | -21.3% |
Housing Supply in Seattle, WA
How many homes are available in Seattle, WA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1,789 | 2,311 | +29.2% |
Summary: The Seattle real estate market had 2,311 homes for sale in February 2024, a 29.2% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 236 | 338 | +43.2% |
2 Bedrooms | 615 | 756 | +22.9% |
3 Bedrooms | 490 | 645 | +31.6% |
4 Bedrooms | 302 | 379 | +25.5% |
5+ Bedrooms | 146 | 193 | +32.2% |
Summary: The Seattle housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 43.2%, 2 bedroom homes increased by 22.9%, 3 bedroom homes increased by 31.6%, 4 bedroom homes increased by 25.5%, and 5+ bedroom homes increased by 32.2%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
403 | 631 | +56.6% |
Asking Price vs. Sold Price
202 Homes Were Sold
Under Asking
210 Homes Were Sold
At Asking
219 Homes Were Sold
Over Asking
Summary: A total of 631 homes were sold or pending in Seattle in February 2024, up by 56.6% month-over-month. Of the 631 sold homes, 32% were sold under asking, 33% were sold at asking, and 35% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
45 Days | 40 Days | -11.3% |
Summary: Homes in Seattle had an average of 40 days on market in Feb 2024, down by 11.3% compared to last year.
Breakdown of Home Sale Times
411 Homes Were Sold
Under 30 Days
108 Homes Were Sold
In 30 - 90 Days
112 Homes Were Sold
Over 90 Days
Summary: During February 2024, 631 homes were sold in Seattle; 65% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.