Rising interest rates were a driver of a slowing real estate market in Seattle for 2023. As expected, the median sales price of $870K and average price per square foot of $536 were both down just under 6 percent compared to 2022. As we look ahead to 2024, we expect to see a similar market ahead, but with increasing spikes of opportunity and optimism.
Read MoreIf you’re considering selling your home in 2024, don’t wait until the summer!
Read MoreLike the seasons, the real estate market is cyclical. Additionally, winter is usually a time in real estate to hunker down and wait for the spring thaw. For instance, five-year trends will show the casual observer that active and new listings peak in May/June and recede through the summer before reaching low points in November/December. However, these cycles can be invigorated or hampered depending on conditions either directly or indirectly related to the housing market.
Read MoreData for median home prices across the U.S. were released Tuesday morning for July 2023. We can see the overall index is posting new highs for median home values, with recent growth since the beginning of the year replacing price corrections experienced during 2022 when the market was initially reacting to the dramatic rise in mortgage rates.
Read MoreThe second quarter of 2023 shows incredible promise for prospective homebuyers. Here’s why.
Read MoreThe 2023 Forecast Report is a compilation of established Pacific Northwest thought leaders who have analyzed the trends in 2022, considered current trends so far in 2023, and share what they believe is on the horizon for real estate across the Puget Sound in the year to come.
Read MoreAfter a relatively slow start to the 2019 real estate market, S&P Case-Shiller reported a strong finish to the year, with year-over-year gains of 4.1% reported for the Seattle metro area.
Read MoreAfter a slow start to 2019 and months of declining year-over-year home price growth, the tides have turned in the Seattle area as the latest S&P Case-Shiller Report.
Read MoreAs the fastest-growing large city in America, Seattle’s booming and diversified economy has spurred unprecedented development and population growth with a clear urbanization trend.
Read MoreThe latest S&P CoreLogic Case-Shiller Home Price Index reported positive home price growth for the first time in three months and as Seattle Times notes.
Read More
