Weekly King County Market Watch
King County continued to see strong spring market activity this past week as inventory and buyer demand both moved higher heading deeper into May. The number of homes for sale increased 4.4% week over week to 6,901 active listings, marking yet another new high for the year, while new listings surged 12.7% as more sellers entered the market ahead of summer. Buyer activity also remained resilient, with pending sales rising 3.0% week over week even as closed sales dipped slightly from the prior week. Pricing trends across the county remained stable overall, with the median sold price jumping 8.4% week over week to $915K and the average sold price increasing to nearly $1.15M. Homes also continued to move relatively quickly despite the increase in supply, with average days on market improving slightly to 25 days. Overall, the market continues to normalize into a more balanced environment compared to the highly competitive conditions of recent years, giving buyers more selection while well-priced homes are still seeing strong engagement.
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.
