Are home prices going up or down in Seattle?

There's been a slight dip in home prices in the Seattle area right now. The median listing price has gone down both recently and over the past year. Buyers might find a bit more breathing room as things cool off a little.

Here’s the scoop on home prices in the Seattle area: right now, they are seeing a slight decrease. Both the median and average listing prices have gone down recently. The median listing price is currently $750,000. This is 3.2% lower than it was last month and also 3.2% lower than it was at this time last year. The average listing price also decreased by 3.2% over the past year, sitting at $1,098,486. Another indicator of price trends is the median price per square foot, which is $432. This figure is 1.8% lower than it was a year ago. It suggests that homes are selling for a bit less per square foot than they used to. There are more homes available now, with active listings up 27.3% over the past year, totaling 12,712. New listings have also increased by 10.2% compared to last year. This higher supply can put downward pressure on prices. More homes are also seeing price reductions; 23.1% of active listings have lowered their prices, which is a 3.1% increase compared to last year. This shows that sellers are adjusting their expectations to attract buyers. If you