How long do homes take to sell in Seattle?

Homes in the Seattle area are currently taking about 45 days to sell. This is slightly longer than they were taking a year ago. Keep in mind this is a median, meaning half of the homes sold faster and half took longer. Right now, there are 12,712 active listings, which is a significant increase of 27.3% compared to a year ago. More homes on the market can give buyers more choices and might contribute to homes staying listed for a bit longer. New listings also went up by 10.2% over the past year, with 4,760 new homes added to the market. This consistent influx of new homes, combined with the higher overall inventory, influences the time it takes for a home to go under contract. Nearly a quarter of homes, 23.1%, have had their prices reduced. This suggests that some sellers are adjusting their expectations to attract buyers and move their homes off the market more quickly. For anyone looking to buy or sell, understanding that homes are taking a bit longer to sell than last year is key. If you're selling, pricing your home strategically and being ready to adjust could help. If you're buying, this might offer a bit more time to consider your options.

Really good question! Right now, homes in the Seattle area typically take about 45 days to sell once they are listed. This means half the homes sell faster, and half take a bit longer. Prices have changed recently, so it’s good to look at the whole picture. That 45-day number is slightly longer than it was a year ago, up 2.3% from then. So, homes are staying on the market a little bit longer now compared to the same time last year. There are also more homes for sale, with active listings up 27.3% over the past year. This means buyers have more choices, and it can take a bit longer for any single home to find the right buyer. The median listing price is $750,000, which is 3.2% lower than both the previous month and the previous year. This shows that prices have softened, which can also contribute to homes taking longer to sell as buyers might be more cautious. For someone looking to sell, it’s important to understand that homes are taking a little longer to sell than they were. Pricing your home competitively from the start is key when there are more options available and prices are down.