Should I buy new construction or resale in Seattle?

It's a good time to consider new construction in Seattle right now because homes are staying on the market longer and the number of available homes has grown quite a bit. Buyers have more options and less pressure to decide quickly. The current market shows that prices are down a bit from last year, and homes are selling for slightly less per square foot. This could make newer homes appealing, especially with less competition.The number of homes for sale has jumped by over 20% compared to last year. This means you have more choices, and it gives you more power as a buyer to find a home that fits your needs.Homes are spending about 37 days on the market before they get an offer, which is a bit longer than last year. This extra time allows you to thoroughly check out different properties, including new construction, without feeling rushed.The median listing price is a little lower than it was a year ago, down 2%, and the price per square foot is also down by 3.3%. This could mean you might get more home for your money, which is good for looking at new construction options.About 21% of homes have had their prices reduced, which is slightly more than last year. This suggests that sellers are more willing to negotiate, giving you potential savings on either new or existing homes.With more homes available and slightly lower prices, you have a good opportunity to find a new construction home that meets your budget and preferences.

It's a good time to consider new construction, but resale homes are also available with some price adjustments. The number of homes for sale has grown quite a bit over the past year, giving you more choices. While new construction might offer modern features, resale homes are seeing some price reductions. Currently, the typical listing price for a home in Seattle is $783,250. This is up slightly by 0.4% in the most recent month but down 2.0% compared to a year ago. Looking at average prices, homes are going for $1,130,723, which is a 2.3% drop from last year. Over the past year, we have seen a 20.6% increase in the number of homes available for sale. This means you have more options to pick from now than you did at the same time last year. Homes are staying on the market for an average of 37 days, which is a little longer (4.2%) than a year ago. Also, over one-fifth of homes (21.2%) have had their prices lowered. This suggests sellers are willing to negotiate. With more homes to choose from and some sellers reducing prices, you have a good opportunity to find a home that fits your needs. Take your time to compare both new and existing homes to see which offers the best value and features for you.