Weekly King County Market Watch
King County activity reflected a strong post-holiday rebound in new supply during the week ending July 5. New listings increased 150% from the prior week, pushing active inventory 4.8% higher and restoring more options for buyers. At the same time, pending sales fell 22.1% and closed sales declined 27.7%, indicating that buyer activity remained slower through the holiday period even as sellers returned to the market. Pricing also softened, with the average sold price down 9.6%, price per square foot falling 8.5%, and the median sold price declining 5.0%. Homes sold for an average of 99% of their final list price and 98% of their original asking price, showing that properties were still closing relatively close to asking despite the weekly price decline. Average days on market increased to 30 days, while cumulative market time rose to 36 days, suggesting buyers are taking more time and sellers may need to remain flexible on pricing and positioning.
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.
