Seattle Market Update – November 2013

The real estate market in Seattle today is a head scratcher. Certain homes are selling quickly while others are requiring sellers to be patient.

Entry-level priced homes are particularly hot. New construction and turn-key homes are moving well, however there is scant inventory in those categories. Waterfront inventory is down, which has increased demand. However, buyers making a seven figure purchase are choosy about amenities and savvy with negotiations.

Compared to a year ago, the number of transactions are up, and home values are significantly higher. The median price of homes sold in Seattle in October was up 13% over last year. Inventory spiked mid-year but it has come back down again – not to the levels of the first quarter of 2013, but well below 2011-2012 inventory.

The gusty weather has blanketed the area with fallen leaves and branches. Make sure and check that your gutters and downspouts are clear. Have a happy and safe holiday season!

Want to know what’s happening in your neighborhood? Check out our monthly Neighborhood Report for:

Laurelhurst

Windermere

View Ridge

Sand Point Country Club

Bryant

Wedgwood

Capitol Hill

Madison Park

Montlake

Portage Bay

The market in Seattle today is a head scratcher. Certain homes are selling quickly while others are requiring sellers to be patient.

Entry-level priced homes are particularly hot. New construction and turn-key homes are moving well, however there is scant inventory in those categories. Waterfront inventory is down, which has increased demand. However, buyers making a seven figure purchase are choosy about amenities and savvy with negotiations.

Compared to a year ago, the number of transactions are up, and home values are significantly higher. The median price of homes sold in Seattle in October was up 13% over last year. Inventory spiked mid-year but it has come back down again – not to the levels of the first quarter of 2013, but well below 2011-2012 inventory.

The gusty weather has blanketed the area with fallen leaves and branches. Make sure and check that your gutters and downspouts are clear. Have a happy and safe holiday season!

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