October 2024 Market Snapshot

As we head into September, we look back at market statistics for August. August typically is a slower time for the market but we saw an increase in sales (slightly) and decrease in inventory. If you are actively looking for homes right now, you probably have been anxiously watching every week for listings. There does not seem like there was a lot out there. Some homes and price ranges are pretty hot.

Welcome to Alki Beach! This well-appointed beach condo is perfect for your next chapter! Just off the vibrancy of the water front and its thriving restaurant scene, convenience is yours! With an open floor plan, this efficient design and functional use of the space lives much bigger than it seems. Two large bedrooms, with tons of natural light and big closets are the perfect place to retire to at the end of the day. The upstairs even has a built-in desk. The backyard is its own private oasis with a covered deck, patio for basking in the sun, enough room for your doggie and container gardening too. Move-in ready with lots of updates throughout. This quiet end-unit's backyard gate conveniently opens directly to your parking spot.

Marrying understated and grand with grace and flair, comfort and immersive views dominate nearly every single room in the entire house. Downtown Seattle is your muse as day breaks or the lights of the skyline emerge at the end of another beautiful Pacific Northwest evening.

West Seattle Realty is excited to invite the community to our office for a conversation about home buying in today’s market. There are so many questions: How’s the market? When’s the right time to buy? Is it a Buyer’s or Seller’s market? I’ve heard Buyer’s Agency has changed. What does that mean for me? Do I need a buyer’s broker (agent)? And these are just scratching the surface. There are many, many questions and the answers are nuanced and typically specific to individuals. 

West Seattle residential prices trended down in July. It’s a pretty big drop Month over Month from June, but not far off last year. We typically see a slow down in activity and prices in the latter half of summer. The drop off is likely attributed to more homes selling in the mid tier price ranges. 30 homes sold for between 700-800k. A lot of those were the ADU/DADU models. Also, we didn’t see as many competitive offer situations as did in the early spring (where escalating offers can drive median up 10-15%).

Seattle is notorious for a big summer slow down. And all you have to do is look outside to understand way: what a spectacular summer it’s been! It’s so beautiful here, we have a short summer relative to most of the rest of the country, and August is where everyone gets that last getaway in, whether it’s crabbing on Hood Canal, catching up with family, or travel abroad.

Market summary featuring June stats and the first half of the year.

How can they build that?

Understanding the spring market!

Market Snapshot April 2024

Recently I had the opportunity to assist my daughter with buying a condo which was really fun. Since then I have helped quite a few of her friends buy their first homes as well

March stats are in for the West Seattle real estate market.