September Puget Sound Housing Update

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Thanks for watching The Goelzer Home Team's monthly housing market update for the Western Washington Puget Sound Region. Are you or somebody you know looking to buy, sell, or invest in the Seattle / Bellevue / Tacoma / Puyallup / Olympia areas? If so, our team is here to help!

To search homes currently for sale in the Puget Sound Region, go to: http://NewListings.GHTHomes.com

To request a free Comparative Market Analysis to see your home’s value, go to: http://HomeValue.GHTHomes.com

If you have questions about buying, selling, or investing in real estate, please call (253) 244-3433 to speak with a REALTOR® for free. (Licensed real estate agents are available 7 days per week from 8:00AM to 9:00PM PT)

HOUSING UPDATE SUMMARY:

►The real estate market in the Puget Sound region is returning to more “normal conditions”.

►Inventory (available homes for sale) nearly doubled from this same time last year, and that means more selection for buyers. The current inventory levels across the region are at 1.84 months of supply, down slightly from last month of 2.01 months.

►Pending and closed sales are slowing. Both pending (homes under contract) and closed sales increased month-over-month, but decreased year-over-year, showing signs of a cooling market returning to more normal conditions.

►Prices continue to increase… but more slowly. With additional homes on the market, sellers must present move-in-ready homes and set realistic prices in order to compete for active buyers. Median year-over-year, single-family home prices rose about 4.2%, from $600,000 to $625,000, with condo prices up 3.3%.

►Buyers are back. Buyers who were priced out of the frenzied real estate market over the past few years are now returning due to increased selection, less competition, more stabilized interest rates, and continued pressure from increasing rental prices.

The full article with further details is available on our blog at: http://www.GHTHomes.com

The Goelzer Home Team
Keller Williams Realty Puget Sound
33434 8th Ave S, Ste. 103
Federal Way, WA 98003
(253) 244-3433

Each office independently owned and operated. Information and statistics compiled and reported by the Northwest Multiple Listing Service. #shorts