Weekly King County Market Watch
King County inventory continued to build, with active listings increasing 1.7% to 8,056 and new listings rising 1.8% to 858. Buyer activity softened, however, with pending sales declining 14.3% to 426 and closed sales falling 30.9% to 342. Pricing also showed some weakness, with the average sold price down 0.9% to $1.10 million and the median sold price declining 4.3% to $837,000, although average sold price per square foot edged up 0.8% to $522. Homes took longer to sell, with average days on market increasing from 34 to 38 days, while the average sale closed at 98% of final list price and 95% of original list price. Overall, King County entered August with more inventory, slower sales activity, longer market times, and increased pricing pressure, reinforcing a more competitive environment for sellers and greater negotiating leverage for buyers.
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.
