Q2 Market Report | Seattle

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Each quarter, Realogics Sotheby’s International Realty analyzes market data to examine trends and to ensure our clients better understand the real estate market. The second quarter of 2020 was framed by a very different real estate landscape as Washington’s stay-at-home order was in effect for the majority of this period. The data across these market areas reflects fewer homes on the market year-over-year likely because of this, and while median prices and buyer demand varied more, it was a seller’s market.

It was a seller’s market in Seattle, as those who chose to stay on or enter the market during Governor Jay Inslee’s stay-at-home order saw less competition in the number of listings, and more buyers, than this time a year ago. The number of homes for sale went down by over 40 percent compared to the second quarter of 2019. This may have contributed to the increase in median home prices in the city, up both year over year, and crossing the $800K mark for the first time since Q3 of 2019.

With only 1.3 months of inventory available, the average days on market decreased compared to Q2 2019, down to 18 from 24.

 
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Erin Alexander

At Finally Social we are a marketing one stop shop for Real Estate agents, Mortgage Brokers and Coaches. We create/audit Social Media Platforms, SM Posting, design & maintain websites, email marketing, branding, & logos. Also marketing collateral: custom images, publications, brochures, flyers, postcards, & magazines.

Erin Alexander is the CEO and founder of FinallySocial.com, a social media and online marketing agency that helps business owners to grow their brand, generate quality leads and convert those leads into profits from social media marketing.

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