Seattle Housing Market Trends – 2021/August

The Seattle housing market continues to see low inventory and high competition last month, August. It’s still a seller’s market. August’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 1,602 listings in August, a 11.6% decrease from the previous month and a significant 40.8% decrease from the same month last year. GPS Renting is a Seattle Property Management Company.

Pended 3,028 homes, 12.9% increase from last month and 1.9% decrease 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.

August listings averaged $484 per SQ.FT. , 0.2% decrease from last month and 22.5% 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 August was $1,099,000, 0.5% decrease from the previous month and a 2.2% decrease 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.

Inventory of August real estate market listings was only 0.5 months, 29.6% decrease from the previous month and a significant 45.6% decrease from the same month last year. GPS Renting is a Seattle Property Management Company.

From the August 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.