Seattle Housing Market Update - September 2024 Insights

🏘️ Seattle Housing Market Update - September 2024 Insights 🏘️

🚀 September's Seattle Market Overview: 🚀

In September, Seattle’s housing market experienced strong activity with a steady increase in both sales and new listings, showing a continued demand for homes.

There were 2,200 new listings this month, with 1,850 sales, pushing the sales-to-new listings ratio to around 84%.

📊 Despite this activity, inventory remains tight with only 1,600 active units, which is 15% lower than the same time last year and 45% below the long-term September averages. 📉

🔍 Inventory Dynamics: 🔍
One of the most notable trends is the sharp decline in inventory for homes priced under $700,000, underscoring the demand for affordable options in Seattle’s competitive market. Meanwhile, properties priced above $1 million have seen an increase in available inventory by 30%, reflecting a shift toward increased availability of higher-end homes. 🏠

💡 Pricing Trends: 💡
September saw the median home price in Seattle reach $895,000, marking a 2.5% increase over the previous month and an 8% rise compared to last year. The most rapid price growth has been observed in South Seattle and surrounding suburbs, where more affordable homes are driving intense buyer interest. 💲

👀 What This Means for You: 👀
Whether you’re looking to buy, sell, or just stay informed, these market insights are essential for making smart real estate decisions. With inventory levels remaining low, particularly in the more affordable price ranges, now is a crucial time to act if you’re considering entering the Seattle market. 🗝️

00:00 Introduction
00:18 Historical Market Data
01:17 Median Home Prices
02:06 Inventory of Homes

🔔 Stay Informed with Emily Cressey Real Estate: 🔔
For more updates on Seattle's real estate market, including in-depth analysis and expert tips, be sure to subscribe to our channel. Your path to the perfect home starts here, with personalized guidance and up-to-the-minute market data! 🌟

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🏢 Emily Cressey, Realtor
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📱 206-578-3438
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Emily Cressey, Seattle Real Estate Broker
Seattle | Bellevue | Everett - Washington State
Text or Call: 206-578-3438

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