Which area of Seattle Real Estate didn’t cool off this August?

Seattle

2021/09/21

Despite the expected hike in prices and sales this fall, median list prices have dropped, signalling a price ceiling hit and cooling prices. According to NWMLS, as expected, the local Real Estate market took a bit of a breather this August; across King County, activity and prices dipped MoM. Though some believe a hike in prices and sales this fall is inevitable, median list prices have dropped, signalling some more chill in housing. In King County, the median home price ↑ 13.5% YoY to $771,750 in August, and in Seattle, even greater, ⁓ ↑ 4% YoY at $799K. Condos in Belltown and its surroundings ↑~ 19% YoY in prices, while ↑ 82% in closed sales and ↑ 47% in pending deals. It may still be too soon to expect another condo crisis, but it’s clear that downtown units are still attractive to buyers, even without clear return dates.