September NWMLS Statistics Reveal a Balanced Market but Home Prices Stay Elevated
The latest NWMLS report on greater Seattle real estate shows active listings are doubled from a year ago, sales dipped down, but prices in most areas are still rising. Despite the rising interest rates, buyers are getting a bit of relief from the chaotic, multiple-offer, pandemic market we experienced over the last two years.
The NWMLS report shows that we are syncing up with pre-pandemic levels. Here is a breakdown of the greater Seattle real estate market statistics for September compared to this time last year:
Overall, the market is at a 2-month supply of inventory, compared to a balanced market, which is 4-6 months’ worth of inventory. Presently, we are on par with the inventory levels of 2019, according to the NWMLS.
When listing a home for sale in the greater Seattle area it is important to show your home at its absolute best. This can mean considering home improvements and more. If you plan to list your home for sale, look at it through the lens of a buyer. You can increase your return on investment by focusing on the updates buyers want most.
Kitchen and bathroom updates, new flooring, fresh paint, new fixtures, and landscaping rank high on our list of suggestions to maximize your ROI. We also coordinate those services for our clients! Click here to see our comprehensive listing plan and before & after photos of our listings.