Should I buy new construction or resale in Seattle?

Deciding between new construction and resale homes depends on what you value most. Resale homes in Seattle are seeing price reductions and a slower pace of sales, which might give you more negotiating power. {"content": "The median listing price in Seattle is $780,000, which is 2.4% lower than last year. This means you might find a better deal on an existing home right now. The average listing price is even higher at $1,142,919, also down 1.0% from last year.", "heading": "Prices are down for resale homes."} {"content": "There are fewer new homes coming on the market, with new listings down 8.4% compared to last year. However, the total number of homes for sale is up significantly, with active listings increasing by 21.0% over the past year. This could mean more selection in general, but new constructions might be snapped up quicker.", "heading": "More competition for new homes, but more choices overall."} {"content": "Homes are taking longer to sell, with the median time on the market now 36 days, 20.0% longer than last year. Also, 19.0% of homes have had their prices reduced, which is up 2.7% from last year. This suggests that sellers of existing homes are more open to negotiating.", "heading": "Homes are staying on the market longer."} {"content": "If you're looking for a potential bargain and don't mind a home with some history, resale homes might be a good option since sellers are more willing to cut prices and wait longer for a buyer.", "heading": "The takeaway for you:"}