What is the median home price in Seattle?

The median home listing price in the Seattle-Tacoma-Bellevue area is $750,000 right now. This is a key number to know when looking at homes here. This median price has seen a small dip recently. It went down 3.2% from the prior month and is also 3.2% lower than it was at this time last year. This shows a slight cooling in prices. There are more homes for sale now than there were last year. Active listings are up by 27.3% over the past year, with 12,712 homes available. New listings also increased by 10.2% compared to last year, adding 4,760 new homes to the market. Homes are taking a bit longer to sell. The median days on market is currently 45 days, which is 2.3% longer than a year ago. Also, almost a quarter of homes, 23.1%, have had their prices reduced. The number of homes with pending sales has dropped. The pending ratio, which compares pending sales to active listings, is 0.32. This ratio is 13.3% lower than it was a year ago, indicating fewer homes are going under contract relative to what’s available. If you are looking to buy or sell, these numbers suggest that prices have softened slightly and there are more options available, meaning a little more time to make decisions.

{ "answer": "The median listing price for a home in the Seattle metro area is $750,000. This price has seen a small dip recently, going down 3.2% from both the previous month and over the past year. This means homes are listed for a bit less than they were a short while ago and also compared to this time last year. There are more homes on the market right now compared to last year. Active listings are up 27.3% over the past year, and new listings have also increased by 10.2%. More choices for buyers usually means less competition. Homes are also taking a bit longer to sell, spending 45 days on the market, which is slightly up from last year. About 23.1% of homes have had their prices reduced, which is also a small increase from over the past year. If you're looking to buy, these trends suggest you might find more options and potentially have more room to negotiate on price." }