Weekly King County Market Watch
King County inventory edged lower during the week ending July 26, declining 1.4% to 7,918 active listings, while new listings fell 15.1% to 812. Pending sales increased 7.5% to 515 and closed sales rose 1.8% to 444, signaling an improvement in buyer activity despite fewer new homes entering the market. Pricing softened, with the average sold price decreasing 8.8% to $1.10 million and the median sold price slipping 0.7% to $887,000. Homes sold for an average of 98% of their final list price and 97% of their original asking price, while the average price per square foot declined 9.2% to $515. Market pace slowed, with average days on market increasing from 29 to 35 days, suggesting buyers remain active but are taking more time and negotiating more carefully.
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.
