Seattle Housing Market Trends – 2021/Feb

The Seattle housing market continues to see low inventory and high competition last month, February. It’s still a seller’s market. February’s Average Sold Price per Square Footage, For Sale Price and Sold Price is appreciating. Let’s take a look at the most recent housing market stats in King County, Seattle. GPS Renting is a Seattle Property Management Company.

For Sale, Sold, and Pended Homes:

* Information and statistics derived from Northwest Multiple Listing Service.

There were 1,045 listings in February, a 5.3 percent decrease from the previous month and a significant 38.5 percent decrease from the same month last year. GPS Renting is a Seattle Property Management Company.

1,600 completed transactions, a 8.3 percent increase from last month and a significant 11.5 percent increase from the same period last year. GPS Renting is a Seattle Property Management Company.

Pended 2,062 homes, 17.4% increase from last month and 11.5% increase from the same period last year. GPS Renting is a Seattle Property Management Company.

Average price per SQFT (Sold):

* Information and statistics derived from Northwest Multiple Listing Service.

February listings averaged $427 per SQ.FT. , 4.4 percent increase from last month and 16.7 percent increase from the same month last year. GPS Renting is a Seattle Property Management Company.

Avg Price for Sale & Sold:

* Information and statistics derived from Northwest Multiple Listing Service.

The average price of a Single Family Home in February was $939,000, 2.4 percent decrease from the previous month and a significant 12.9 percent increase from the same month last year. GPS Renting is a Seattle Property Management Company.

Months of Inventory Based on Pended Sales:

* Information and statistics derived from Northwest Multiple Listing Service.

February real estate market listings with only 0.5 months of inventory left, 15.9 percent decrease from the previous month and a significant 43.6 percent decrease from the same month last year. GPS Renting is a Seattle Property Management Company.

From the February Stats, we are still in a market with an extremely low inventory, buyers are still active, and the number of sold and pended homes is much higher than the number of listings, with that said, the supply is much lower than the demand. It happened why it is so hard for home buyers even during pandemic. GPS Renting is a Seattle Property Management Company.

Good news! GPS offers exclusive off-market deals of real estate listings, you don’t have to compete with buyers in the market. If you have any questions or thoughts about buying, selling or renting a home in Seattle, please reach us @ (425) 243-5082, hi@gpsrenting.com,

Or add us on WeChat @ GPSSeattle to talk about your needs!

Wish everyone to stay healthy and the Pandemic will be over soon! GPS Renting is a Seattle Property Management Company.