The Seattle real estate market has been booming month over month, and the trend is expected to continue. With the consequences of global warming affecting climates in other regions, coupled with the rapid expansion of companies like Amazon, Seattle is growing remarkably fast. More and more people continue to flock to the Emerald City, growing the population by more than 1,000 people per week since 2010.
In September this year, there were slightly fewer residential home listings at 134 as compared with listings in 2016 (143). The average sale price also dropped $55,000 to $993,291 in 2017, from $1,048,533 in 2016. The highest home sale price in September 2016 was nearly $4.5 million, dropping $1.5 million last month to a top sale price of $2,975,000.
Condo sales in September 2017 also decreased in comparison to the same month last year, but numbers may have skewed due to multiple sales last year at the new Luma Condominiums, which opened mid-September 2016. There were 82 condo listings last month, in comparison to 211 in September 2016 (just over 100 of which were at 1321 Seneca Street, where Luma is located). The average sale prices were relatively the same between 2016 and 2017, with $543,483 being the average for September 2016 and $522,281 for last month this year. The most expensive condo sale in 2017 was $313,950 less than last year’s at $1,066,000 - the highest sold condo of September 2016 was $1,379,950.
Throughout the Seattle area, there’s a total of 260 active listings, with 321 pending sale.
If you’re looking for a home in Seattle’s neighborhoods, or it’s time to list your current home for sale, Ewing & Clark’s team of experienced luxury real estate brokers can help! Contact us to get started with our full-service, professional care.