The past two years have shown stronger sale prices in Seattle, reaching over $14M and $17M, respectively, albeit slightly below the regional average of $18M in 2024. However, selling in Seattle in 2024 required patience, with an average of 348 Days On Market (DOM). *This number was adjusted by removing an extreme 9-year outlier to reflect a more accurate picture. Despite the lengthy sales process, top sale prices remain consistent, with properties fetching about 83.5% of list prices in 2024.
Highlights
Prices are on a 3-year growth trajectory from $8M in 2022 to $17M in 2024
Seattle is the slowest market in the region with 348 DOM on average*
The 83.5% of original list price achieved in 2024 was the lowest it has been in 10 years.
Days are long
Even without accounting for the outlier property that took 9 years to sell, Seattle's sales timeline exceeds that of the Northwest Coast region. Seattle's top sales are impressive, outperforming the overall U.S. market. However, the Northwest Coast has many strong markets and Seattle falls slightly short of the regional average of $18M.
Sellers who secure faster sales have a clear advantage, with properties selling within 180 days achieving nearly 10% higher sales-to-list price ratios. Specifically, compared to their slower-selling counterparts, which only achieve 79.5%.
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