The median priced home value in central Seattle Washington have been pretty flat since March. Hovering just above or just below $600,000. It moved from $571,475 in September up to $596,250 in October.
For that same period, the sales volume has been flat as well. It's been hovering around 50 homes sold each month, but in October that dropped to 40. A surprise since there were 59 homes pending in September. Tightened standards for obtaining financing plus the negative news on the economy is the likely cause.
What will happen in November? Good question.
The volume of homes sold will likely be in the high 30's since there are 42 pending sales in October. Although, it may be lower depending on the confidence of home buyers. The median home price will likely remain under $600,000.
There are many great buying opportunities with this market. Today Sellers are motivated and interest rates are low. We may be looking back at this winter as one of the best Buyer's markets we've seen for quite a while.
Sales Value Graph
Sales Volume Graph