Is Seattle, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Seattle has remained a Seller's Market.
Key Takeaway
Seattle is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Seattle, WA
How much do homes in Seattle, WA cost?
Median Sold Price
$814,657
$567/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Seattle have sold for 1.7% less than they did a year ago.
Summary: The median home sold price in Seattle was $814,657 in April 2024, down 1.7% from last year, and the median price per square foot was $567.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $439.2K | $435.5K | -0.8% |
| 2 Bedrooms | $690.5K | $679.9K | -1.5% |
| 3 Bedrooms | $905.2K | $899.3K | -0.7% |
| 4 Bedrooms | $1.2M | $1.1M | -2.6% |
| 5+ Bedrooms | $1.5M | $1.4M | -6.6% |
Summary: Seattle housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.8%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes decreased by 6.6%.
Median Sold Price Compared To Nearby Cities
| Mercer Island | $2.2M | $2.2M | -0.9% |
| Seattle | $828.9K | $814.6K | -1.7% |
| Burien | $679.9K | $647.7K | -4.7% |
| Tukwila | $575K | $515K | -10.4% |
| Medina | $5.3M | $4.0M | -25.3% |
Housing Supply in Seattle, WA
How many homes are available in Seattle, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2,439 | 2,995 | +22.8% |
Summary: The Seattle real estate market had 2,995 homes for sale in April 2024, a 22.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 356 | 447 | +25.6% |
| 2 Bedrooms | 780 | 955 | +22.4% |
| 3 Bedrooms | 705 | 868 | +23.1% |
| 4 Bedrooms | 398 | 498 | +25.1% |
| 5+ Bedrooms | 200 | 227 | +13.5% |
Summary: The Seattle housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25.6%, 2 bedroom homes increased by 22.4%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 25.1%, and 5+ bedroom homes increased by 13.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 767 | 803 | +4.7% |
Asking Price vs. Sold Price
220 Homes Were Sold
Under Asking
262 Homes Were Sold
At Asking
321 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Seattle, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 803 homes were sold or pending in Seattle in April 2024, up by 4.7% month-over-month. Of the 803 sold homes, 27% were sold under asking, 33% were sold at asking, and 40% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 24 Days | 22 Days | -8.5% |
Summary: Homes in Seattle had an average of 22 days on market in Apr 2024, down by 8.5% compared to last year.
Breakdown of Home Sale Times
649 Homes Were Sold
Under 30 Days
104 Homes Were Sold
In 30 - 90 Days
50 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Seattle are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 803 homes were sold in Seattle; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.