Is Seattle a seller's market right now?

Right now, the Seattle-Tacoma-Bellevue housing market shows some shifts that benefit buyers more than sellers. While there are still plenty of homes changing hands, the market isn't as hot as it once was for sellers. The median listing price is $775,000, which is slightly down by 1.1% from the previous month and 1.3% compared to last year. This means prices have softened a bit, offering potential relief to buyers. There are also more homes available now, with active listings up 21.4% over the past year, reaching 12,278. This increased choice gives buyers more options and less pressure to act quickly. Homes are also staying on the market longer, with the median time at 44 days. This is an increase of 11.4% from last year, suggesting that buyers have more time to consider their options. Nearly a quarter of all listings, 23.0%, have had their prices reduced. This is a small increase from last year and indicates that sellers are adjusting their expectations to attract buyers. If you're looking to buy, this could be a good time, as you have more choices, prices are a bit softer, and sellers might be more open to negotiation.

The Seattle-Tacoma-Bellevue area is currently favoring buyers more than sellers. The number of homes for sale has grown a lot, and homes are taking longer to sell. Many sellers are also having to drop their prices. Right now, there are 12,278 homes listed for sale, which is a significant increase of 21.4% compared to this time last year. This means buyers have more options to choose from, putting less pressure on them to make quick decisions. Homes are also staying on the market longer, with the typical home selling in 44 days. This is 11.4% longer than last year, showing that buyers are taking their time. When homes sit longer, sellers often become more willing to negotiate. Nearly a quarter of all listings, 23.0%, have had their prices reduced. This percentage has also gone up by 1.7% from last year, indicating that many sellers are struggling to get their asking price and are making adjustments to attract buyers. The median listing price has also dipped slightly to $775,000. If you're thinking of buying, these conditions suggest you have more power to negotiate and find a home that fits your budget and needs.