Weekly King County Market Watch
King County remained inventory-heavy during the week ending August 16, with active listings rising 0.9% to 8,060 homes, the highest level in the period shown, while new listings increased 3.1% and closed sales rose 6.4%. Pending sales, however, declined 8.6%, pointing to some softening in near-term buyer activity despite the pickup in completed transactions. Pricing was mixed, with the average sold price falling 5.1% to $1.095 million and average sold price per square foot declining 7.2% to $512, while the median sold price increased 1.4% to $847,000. Homes continued to sell for about 96% of their original list price, while average days on market improved slightly to 35 days and cumulative days on market declined to 46 days. Overall, elevated inventory and softer pending activity continue to give King County buyers more choice and negotiating leverage, while sales activity remains relatively resilient.
Contact me today to set up a consultation in person or virtually to learn more about market conditions, Compass Concierge, and how I can leverage our nationwide network to source buyers to sell your home for more money.
