Market Trends:
- Median Price Stabilization: Across many counties, pricing has leveled out, shifting from the rapid price increases in previous years. This could indicate a stabilizing market that benefits both buyers and sellers.
- Pending Sales: Although inventory has increased, pending sales aren’t surging at the same rate. In fact, some counties are seeing a slight decline in pending sales (e.g., King County with a 1.32% decline), indicating a more balanced market.
These trends illustrate a more balanced market in Western Washington, where both buyers and sellers can strategically find opportunities. Buyers are benefitting from increased inventory, while sellers should be flexible in pricing to capitalize on growth.
Information and statistics derived from Northwest Multiple Listing Service.