Market Update: Seattle, WA February 2023
A strong seller’s market persists across Seattle’s luxury real estate market according to statistics from Realogics Sotheby’s International Realty.
Luxury homes in the Seattle area between $3M-$5M are selling for 111% of their asking price, a 13% increase from January 2022.
Additionally, listings in this price range have experienced a decrease of days on market year-over-year of 36.8% to only 8, with one sale currently recorded for January 2023.
Furthermore, monthly inventory is up 47.1% compared to January 2022 with 30 properties on the market. 18 of which are single-family home listings, 7 are condominiums, and 5 land.
Luxury homes priced at $5M and above within Seattle have also experienced an inventory increase with 19 properties in January 2023, a 100% increase year-over-year, and a 260% increase from January 2021.
Overall, the real estate market in Seattle is a strong seller’s market according to Realogics Sotheby’s International Realty market-trends report for January 2023.
This market report has been provided by Moira E Holley, Realogics Sotheby’s International Realty. Our Exclusive Partner on LuxuryRealty.com for Seattle, Washington, & a LuxuryHomes.com Affiliate.
Sources:
Seattle Real Estate Market Insights | Realogics SIR