Seattle Housing Market Trends – 2021/May

The Seattle housing market continues to see low inventory and high competition last month, May. It’s still a seller’s market. May’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 1,369 listings in May, a 0.3% decrease from the previous month and a significant 47.2% decrease from the same month last year. GPS Renting is a Seattle Property Management Company.

Pended 3,367 homes, 16.9% increase from last month and 37.5% 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.

May listings averaged $474 per SQ.FT. , 0.2% decrease from last month and 29.5% 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 May was $1,082,000, 0.4% increase from the previous month and a significant 35.1% 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.

May real estate market listings with only 0.4 months of inventory left, 21% decrease from the previous month and a significant 66.1% decrease from the same month last year. GPS Renting is a Seattle Property Management Company.

From the May 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.