Seattle real estate market experiences seasonal slow but will the new year bring increased demand?
The November NWMLS statistical report reinforces what we’ve been seeing in the field and often do this time of year – sales activity has slowed in the Seattle real estate market. The numbers reflect what we historically see for the holidays and inclement weather. That said, King and Snohomish county median sales prices continue to be slightly above what they were this time last year.
With the buzz that interest rates may stabilize in the new year, it puts buyers in a great position to get out there and view the increased inventory. Sellers should be focusing on accurate pricing and showing their home at its best. It’s important for sellers to make sure their home stands out and even consider buyer incentives.
Here is a breakdown of the greater Seattle real estate market statistics for November compared to this time last year:
We strongly recommend that sellers do a walk-through with a real estate professional before listing to address home repairs and updates. There are many updates a seller can do to increase their return on investment and attract buyers.