Is Seattle a buyer's market right now?

The Seattle market isn't leaning heavily towards buyers right now. While prices have dipped slightly, the overall conditions suggest a more balanced situation. Buyers do have more homes to choose from, but homes are still selling without major price drops.

Right now, the housing market in Seattle is showing some signs that favor buyers, but it's not a clear-cut buyer's market. Prices are slightly down compared to last year, and there are more homes to choose from. This means buyers might have a bit more breathing room and negotiation power. The median listing price is $783,250, which is a tiny bit up from last month but down 2.0% from last year. This small decrease in overall prices year-over-year suggests that buyers aren't facing rapidly increasing costs. There are also a lot more homes available. Active listings are up by 20.6% compared to last year, with 11,644 homes on the market. More choices usually give buyers an advantage. Homes are also staying on the market a little longer, with a median of 37 days. This is 4.2% more than last year and it tells us that buyers have more time to consider their options. For buyers in Seattle, this market means you have more homes to choose from and a bit more time to make a decision. You might even find opportunities to negotiate on price, especially with 21.2% of listings already seeing price reductions.