Seller conditions continue throughout Seattle with limited listing supply and continuing buyer demand.
With an average of 1 month supply of listing inventory, 56.5% less than January 2020, many homes are selling for an average of 100% of the asking price and spending an average of 45 days on the market. The average sales price is $833,000 for January 20201, a 9.9% increase compared to last year.
Looking specifically at listings $5M+, there was an increase in inventory of 220% in January 2021, compared to January 2020. A total of 28 properties.
Overall, A total of 742 total homes have sold in January 2021, a 21.6% increase from this time last year.
Market Update provided by LH Affiliate:
Moira E Holley, Realogics Sotheby’s International Real Estate