How is the Seattle housing market doing?

The Seattle-Tacoma-Bellevue housing market shows prices holding steady right now, even with more homes for sale. The typical home is listed at $783,250, which is a tiny bit higher than last month. Over the past year, prices have come down a little, but not by much. There are also more homes on the market compared to a year ago. Right now, there are 11,644 homes actively listed, which is a 20.6% jump from last year. This means buyers have more choices than they did a year ago. Homes are taking a bit longer to sell. The typical home stays on the market for 37 days, which is a few days longer than it was a year ago. Also, fewer homes are going under contract compared to the number of homes for sale. The number of homes with a price drop is fairly steady, at 21.2% of listings. This is only a small increase from last year, suggesting sellers are pricing their homes more realistically upfront. Overall, the market is seeing slightly longer times for homes to sell and more options for buyers. This means buyers have a bit more breathing room to find the right home, and sellers might need to be patient.