It’s true, even in the Seattle market where current median prices are upwards of $650,000 … 1,259 homes were sold in Seattle last month. The housing market in the Seattle area is starting off the year with record-low inventories, rising prices and signs pointing to a "piping-hot market. SEATTLE -- The coronavirus pandemic and Gov. If you would like to download the image: Download The Seattle Housing Market Report Infographic For November. Currently, it’s a little bit over $700,000. The percentage of homes that sold in the first 30 days is 57%. Need more information, curious what your home would sell for, or need help finding your next home. Rental Registration Inspection Ordinance (RRIO) registration is also required for all rental properties that are not the primary residence. The overall index is set to 100 in this baseline period. Seattle’s real estate market continues to hold strong, even as temperatures fall. KIRKLAND, Washington (October 7, 2020) – Northwest Multiple Listing Service brokers completed 10,175 sales transactions during September – the highest monthly volume since June 2018 when MLS members reported 10,072 closed sales. 2 thoughts on “ 2019-2020 Seattle Housing Market: The Outlook is Sunny! While these regulations were passed in 2017, they weren’t implemented until 2019. The Seattle real estate market is expected to continue this cooldown trend by dropping another 2.9 percent in value in the coming 12 month period. With still amazingly low interest rates, and a low level inventory the last couple of years the Seattle real estate market should remain in the surge to frenzy status for the foreseeable future. That number is usually closer to 30%. The average home is selling in just 20 days. SEATTLE — Home sales in the United States dropped considerably during the second half of March as the coronavirus pandemic hit hard, but according to a new Zillow Real Estate Market … Low inventory means higher demand. Clearly, the latest Seattle housing market trends show signs of a healthy correction. SEATTLE — The next time you drive through town, don’t be surprised if you still see homes up for sale. According to the above-mentioned report, Seattle real estate remains in expansionary mode, following a national trend of the longest economic expansion in US history. COVID-19: What does it mean for the 2020 Seattle housing market? 2. But other real estate prospects, like the expansion in office space (8.8 million square feet already under construction) keep the general state of the Seattle real estate market strong. It wasn’t just Seattle, but properties in cities all across the Washington real estate market were appreciating at fast rates. Existing Home Sales Up 21% in June Amid... No US Housing Bubble Crash in Sight, Expert... How to Calculate the Rate of Return on a Rental Property. The majority of experts don’t think so. What Are the Expected Residential Real Estate Trends in the US Housing Market for 2018? To help you out, using our investment property calculator again, we’ve pulled some data on the neighborhoods expected to perform best in the Seattle housing market 2020. There are a lot of positive factors forecasting a strong Seattle real estate market in 2020, such as: There are some positive prospects, but is it a good time to buy a house in Seattle for investment? However, instead of worsening Zillow predicts an improvement in 2020, with only another 2% drop. The Generation No One Is Talking About and Its Effect on Real Estate. That is down 31 from the previous month, up 314 from last year, and up 255 from 5 years ago. Below you'll find statistics for the Seattle real estate market which are updated every day from the NWMLS. 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