September 2019 Real Estate Report for Seattle Neighborhoods
Although rent in the Puget Sound continues to skyrocket, Seattle is still seeing a decrease in median home prices, with decreasing prices predicted for the next year or so. This year, the average September sale price for both homes and condos was significantly lower than in September of last year.
We saw a jump from only 12 residential home listings in September 2018 to over double that amount this year, at 25 closed home listings ranging in price from $560,000 to $2,100,000. The average sale price for residential homes that sold in September of last year was $1,406,896, which decreased to an average sale price of $1,007,818 for homes that sold last month. The most expensive home that sold last month closed at $2,100,000, which is less than half the top September 2018 sale price of $4,400,000 (the most expensive house sold last September by a long shot).
Condominium real estate saw only two listings this September, versus eight listings in September of last year. The average sale price for condos last month was $523,750, a considerable $346,378 lower than last year’s average of $870,128. The high average sale price of 2018 may not provide an accurate picture because of the wide range in sold condo prices from $317,000 to $1,700,000. This September, the two condos listed sold for $275,000 and $772,500.
As of today, there are a total of 1,499 active real estate listings, with 604 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 partners you need to navigate Seattle’s busy real estate market. Contact us to get started!