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 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 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 MoreRealogics Sotheby’s International Realty presents a look at the housing market trends for the fourth quarter of 2019, from the shores of Bainbridge Island’s waterfront homes.
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