Is now a good time to sell my home in Seattle?

Deciding to sell your home right now in Seattle has both pros and cons. While prices have seen a small recent uptick, you should be aware of some trends that favor buyers. The median listing price in Seattle is currently $780,000. This is actually up slightly by 0.5% from last month, which is good news. However, compared to last year, the median listing price is down by 2.4%. Also, the price per square foot is lower by 3.6% compared to a year ago, now at $452. There are many homes for sale right now, with 10,456 active listings, which is 21% more than last year. Plus, homes are staying on the market longer, with a median of 36 days, up 20% from last year. This means buyers have more choices and time. Close to one in five homes, or 19%, have had their prices reduced. This is up 2.7% from last year, suggesting sellers are adjusting prices to attract buyers. For sellers, you'll find the current market has more competition and homes are taking longer to sell. If you choose to sell now, pricing your home competitively from the start will be particularly important.