Weekly King County Market Watch
King County inventory continued to expand during the week ending July 19, rising 1.7% to 8,030 active listings, while new listings declined 5.6% to 938. Buyer activity softened, with pending sales falling 7.9% to 488 and closed sales dropping 24.1% to 377. Pricing remained resilient despite the decline in transactions, as the average sold price increased 4.2% to $1.225 million and the average price per square foot rose 3.9% to $564, while the median sold price held steady at $915,000. Homes sold for an average of 98% of their final list price and 96% of their original asking price. Market pace slowed modestly, with average days on market increasing from 29 to 30 days and cumulative days on market rising from 35 to 39 days, reflecting greater buyer selectivity as inventory reaches its highest level of the period.
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.
