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Seasonal Slowdown gives Buyers more Opportunity in Washington

Most areas showing slightly improving inventory 

With a slight cooling of the markets because of the seasonal slowing in the Northwest counties buyers are finding a little respite. Inventory count is slightly up because of this offering a little more inventory to choose from. Prices have continued to climb in the 4 county Puget Sound region. While inventory did reach about 1.7 months it was still well below the 4-to-6 month indicator used by many industry analysts to measure for a balanced market.

What are some brokers saying about the current market conditions?..."we still have strong buyer demand" or "The seasonal summer market was stronger this year..." and " Market indicators are showing we are gaining a healthier balanced market" all the while acknowledging that strong job growth statewide is fueling demand for housing. Washington has added around 83,000 new jobs from August 2016 through August 2017 (not seasonally adjusted), according to the state Employment Security Department.

Northwest MLS figures show area-wide median prices are up more than 12 percent from a year ago, rising from $340,000 to $381,000. September's figure is slightly lower than the peak reached in July when the median price across all counties was $385,000.

While many potential buyers continue to sit on the fence and wait to see what the markets do there are still many opportunities for those who have positioned themselves. Having all of their ducks lined up with their financing in place and a sound plan for when the chance to buy presents itself they can find still find good deals. 

Looking to buy or sell and want the process to be a little more painless? Call or email us and let us show you how we can remove a lot of this stress in these present conditions.  

Looking to buy or sell?  

Start here by downloading our newest app that lets you search our MLS in "real time" and even chat with someone if you have questions! It's free from the app store. 





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The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.