Today I'm bringing you good news from the Seattle PI as it relates to local house prices and inventory. People are buying more homes and paying more for them, but fewer are for sale.
The median price of a King County house that sold in October was $447,250, up 5 percent from last year but down 2.8 percent from September. This is in line with typical seasonal variation that can be expected as we move into winter.
So what does this mean for you? It means that right now is a great time to put your home on the market. New listings are currently getting higher than normal sales activity. Sales rose by 2.3 percent countrywide and 0.1 percent in Seattle, while listings fell by 1.6 percent and 13.4 percent, respectively.
There is naturally a seasonal slowdown near the end of the year as the holidays approach, but all of the numbers we're seeing are indicating a more modest slowdown compared to years past.
Read the full article from the Seattle Post-Intelligencer.