Seattle’s real estate market is getting warmer. The Northwest Multiple Listing Service (NWMLS) recently released its March data, and things bode well for sellers in the months ahead. Buyers, though? Steel yourselves.
Citywide, the median home price increased 8 percent year-over-year ($831,000). Closed sales were flat over the same month last year, but they showed positive momentum from February (up 17.6 percent).
Inventory remained dreadfully low (1.7 months—while four to six months is considered balanced), but a fissure appeared: active listings increased 5.4 percent over last year. And in potentially good news for buyers: new listings jumped 18.3 percent month-over-month.
Looking at Seattle’s neighborhoods, all but one saw annual
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