2013-2014 Seattle Housing Market Trends

Filed in How's the Market by on January 23, 2014 0 Comments

When is the best time to sell a home in Seattle or the Eastside? The 2-year graph below shows our typical seasonal trend in terms of supply, pending sales, new listings and closed sales from 2012 through 2013.

King County Single Family Home and Condos - 2012 through 2013

King County Single Family Home and Condo Market Activity – 2012 through 2013

The 2013 portion shows a pattern more typical of “normal” years because in 2012 we were coming out of a period of higher inventory and an undecided market.  Notice how in February and March of 2013 we have a relatively high ratio of pending sales (the red line) compared to total inventory available (the light green bars), while closed sales are rising significantly.  New listings (the blue line) are increasing but are matched by the pending sales line until April, when new pending sales are surpassed by new listings.

The bottom line?  February and March are usually excellent home-selling months in terms of demand, contrary to the expectations of many sellers who believe that June and July are the peak months.  April and May are also good months, and closed sale prices tend to increase throughout the spring, as the graph below shows.

King County Single Family Home and Condo Prices - 2012 through 2013

King County Single Family Home and Condo Median Closed Sale Prices – 2012 through 2013

While the media often make July sound like the best month for sales, this is because they are relying on “closed sale” reports that are released during that month.  Those closings typically occurred in May, meaning that the homes were listed earlier in the spring.  The Seattle area housing market actually tends to taper off slightly in June and slow down throughout the summer months, followed by a perk in the fall.

Regardless of when a home is listed, outstanding home staging and professional photography are keys to making it “pop” on to the market in a way that creates a very favorable market response.  We typically work with sellers for at least several weeks prior to listing a home, which means that if you are considering listing a home, the earlier you call us the better we will be able to help you prepare.

About the Author ()

Irene Nash has been representing Seattle and Eastside home sellers and buyers in real estate since 1999. She and her husband Mike specialize in straightforward communication and providing top-notch staging and photography for every home listing.

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