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... Sophie Reid; Seattle-area house prices are the fastest rising of any city in the country, after Phoenix. Percentage of Homes That Go Pending In First 30 Days. The housing market in the Seattle area is starting off the year with record-low inventories, rising prices and signs pointing to a "piping-hot market. 1,259 homes were sold in Seattle last month. New listings decreased again in November. Stay up to date with the latest tips for Traditional & Airbnb Investments. The surveyed experts expect average U.S. home values to grow by 2.8 percent in 2020. One source predicts a decline of around 3.8% between now and May 2020. Development and redevelopment opportunities, Monthly Traditional Rental Income: $2,337, Monthly Traditional Rental Income: $2,795, Monthly Traditional Rental Income: $1,843. With only 1.6 months of supply if no other homes were listed in the next 45 days we would run out of houses to buy. 57% of homes are selling in less than 30 days in Seattle. Rental Registration Inspection Ordinance (RRIO) registration is also required for all rental properties that are not the primary residence. Still, the average house value in Seattle is $714,800. The Seattle real estate market forecast includes construction- just not for residential housing. Clearly, the latest Seattle housing market trends show signs of a healthy correction. With property prices leveling off, the housing market in Seattle is projected to hold up quite well. SEATTLE — The next time you drive through town, don’t be surprised if you still see homes up for sale. In the outlook for house building, it scored 31 out of the 80 real estate markets studied in the report. If you’re a buyer you will want to position yourself to create a buyer advantage when competing with other buyers and walk in confidence when making an offer. MISSOULA, Mont. J Lennox Scott. As you can see in the Seattle housing market homes in the 350-1 million price range are the most commonly listed and sold. We put this list together every month. This week we discuss how, despite the current times, Seattle is continuing to be a hot Seller’s Market! The average home is selling in just 20 days. Includes information on listings in the Seattle WA area as a whole as well as within individual neighborhoods and subdivisions in Seattle. Seattle Real Estate Market Trends and Statistics. Expect lower prices when buying an investment property in Seattle. If you would like to download the image: Download The Seattle Housing Market Report Infographic For November. What’s the Best Airbnb Analytics Platform for 2019? Redfin reports that the average selling price of Seattle houses for sale is $675,000; meaning Seattle house prices are down 0.44 percent from last year. Here’s more on that and a couple of other predictions in our Seattle housing market forecast. The Seattle home price was up by 6% in February 2020, from a year ago. In addition, many people have converted to working from home and no longer need to be commuting distance from Seattle or Bellevue. If you are interested in seeing past months you can access the archive below: Are you currently working with one of these agents? Here are the updated housing market trends & predictions for 2020 & 2021. To help you out, using our investment property calculator again, we’ve pulled some data on the neighborhoods expected to perform best in the Seattle housing market 2020. The overall index is set to 100 in this baseline period. Of course, different parts of the market will project a different rate of return for rental property investments. The index then compares the current status “to the last week of January 2020 market trend, as a baseline for pre-COVID market growth. You won’t know unless you conduct a real estate market analysis. After about a year and a half of cooling off, low inventory is heating the Seattle housing market back up. Monday NW Seattle Real Estate Market Update June 15th, 2020 June 15, 2020. There is a severe shortage of unsold inventory in this range, which comprises 60 percent of sales activity locally. Mashvisor’s investment property calculator analyzed rental property performance across the Seattle housing market– here is the key data: Based on these figures alone, you might not think the Seattle housing market forecast is too positive. Use analytics to find lucrative traditional or Airbnb properties in a matter of minutes. If you are considering a move up, a move down, or just want to sell your home… Months of inventory is still at well below average. Key Market Indicators – October Recap 2020. SEATTLE HOME PRICE FORECAST SUGGESTS MODEST DECLINE THROUGH 2020 A recent forecast for Seattle home prices suggests that house-value decreases could be in the low single digit range. Because we started the season a few months late, perhaps it will run a few months late. We will discuss the 3 major factors in determining the strength of the market. The economic research team at Zillow expects to see a small, and possibly negligible, rise in home prices for the Seattle housing market in 2020. By January 2020, the Seattle housing market had posted the highest growth in the entire region. Jul 7, 2020, 1:32pm PDT Compared to a year ago, the Puget Sound region's single-family housing market is in the dumps, but compared to … This is true, especially in the real estate market. People have had plenty of time to think about what they want their home to be and have decided they need to make adjustments. With the interest rates at the Absurd rate of 3.0% a .04% decrease from last month (source: Mortgage News Daily). While Seattle did make it back in the top ten in the Urban Land Institute and the PwC: Emerging Trends in Real Estate 2020 report, the Seattle housing market isn’t looking too strong on the growth prospect as home construction is down. Properties have been going pending faster, agents have seen more bidding wars, and new listings are lower compared to the same time last year. These stats cover the greater Seattle metro, but individual cities and neighborhoods may be significantly different. Seattle’s real estate market continues to hold strong, even as temperatures fall. There are a lot of positive factors forecasting a strong Seattle real estate market in 2020, such as: There are some positive prospects, but is it a good time to buy a house in Seattle for investment? How to Find Investment Properties for Sale Near Me, Urban Land Institute and the PwC: Emerging Trends in Real Estate 2020 report, Airbnb Data Analysis Is the Key to a Profitable Short Term Rental, 2 Real Estate Resources You Need to Start Using Now, Las Vegas Real Estate Market 2018 – Overview and Forecast, 5 Major Trends of the US Real Estate Market in Q3 2018, 7 San Diego Housing Market Trends for 2020, US Housing Market Predictions: What’s to Come in 2020. Seattle’s real estate market continues to hold strong, even as temperatures fall. 1,653 new listings went on the market this month. The Seattle, WA housing market is very competitive, scoring 89 out of 100. The higher a market’s index value, the higher its recovery and vice versa”, according to Realtor.com. The data tells a story about the current state of our local residential real estate market. The median home value has gone down 3.9 percent over the last 12 months. 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