Is Seattle a good market for real estate investment?

There are signs that Seattle is becoming a less competitive market for homebuyers. Prices have gone down a bit over the last year, and there are more homes to choose from. This could be a good sign if you are looking to buy. The median listing price in Seattle is $780,000, which is down 2.4% from last year. The average price per square foot is also down by 3.6% over the last year, now at $452. This means homes are costing a bit less than they used to. There are also more homes for sale. Active listings are up 21% from last year, with 10,456 homes on the market. However, fewer brand new listings are coming on the market, down 8.4% from last year. This suggests that while there are more homes overall, the pace of new properties being added has slowed down. Homes are also staying on the market longer. The median time a home spends on the market is now 36 days, which is 20% longer than last year. Also, 19% of homes have had their prices reduced, an increase of 2.7% from last year, meaning sellers are more willing to cut their prices. For you as a potential buyer, these trends suggest you might find more options and potentially have more negotiating power when buying a home in Seattle right now.