Are home prices dropping in Seattle?
I’ve recently written about signs in the data of an evolving Greater Seattle real estate market, and we have more fuel to add to the fire.
While logging and analyzing the Seattle real estate date last month, I noticed home prices dropped in Seattle from April to May, which is an abnormal part of the year to see a price drop (prices tend to cyclically rise in May).
I also recently wrote about how the amount of listings that hit the market in May surpassed every month for the last 8 years in Seattle - 10 years in King County.
For the full write-up on how supply and demand shifts are causing Seattle real estate prices to drop visit: www.ProsperaRealEstate.com/Market-Shift
Admittedly, last month there wasn't enough data for me to think of it as a trend, and there was certainly a chance the abnormalities I was seeing were just blips on the radar. But nonetheless, it had me asking myself "are home prices dropping in Seattle?" Was a softening in the market finally happening?
So, when I began logging the data at the beginning of this month, I was on the lookout for more signs of home prices dropping in Seattle. I didn't have to look far.
I delve into the shifts I'm seeing in the supply and demand side of the equation, how those shifts are beginning to affect prices, and what other changes could soon follow (i.e. waived contingencies, offer review dates, and escalation clauses) at www.ProsperaRealEstate.com/Market-Shift.
So check that out for more info on what's going on with the Seattle real estate market and to learn more about home prices dropping in Seattle.