August 2019 Real Estate Report for Seattle Neighborhoods
Although Seattle is appearing to be the only major city in the U.S. where home prices continue to be lower than this time last year, the average August sale price for both homes and condos was slightly higher in 2019 versus August last year.
With only four residential home listings in August 2018, we saw a significant jump to 20 home listings that closed last month. The average sale price for residential homes that sold in August last year was $653,725, which increased to an average sale price of $921,928 for homes that sold last month. The most expensive home that sold last month closed at $2,387,500, nearly triple the top August 2018 sale price of $825,000.
Condominium real estate saw similar action in the Seattle area last month, as compared with August 2018, although there were only six listings last month versus nine in the same month last year. The $1,544,082 average sale price for condos that sold in August 2018 was significantly skewed by a condo sale for $9,000,000. Removing that outlier from the statistics adjusts the average sale price to $612,092.50 for condos sold in August last year, with the next-top sale price of $1,600,000. The average sale price for condos that sold last month was $667,167, with a top condo sale price of $1,449,000.
As of today, there are a total of 1,364 active real estate listings, with 586 Seattle home and condo listings that are pending sale.
When you’re ready to list your home for sale or begin searching for your next dream home, professional expertise is key. Ewing and Clark’s team of knowledgeable and experienced brokers and leasing agents are just the partner you need to navigate Seattle’s busy real estate market. Contact us to get started!