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The May numbers landed with a small twist worth sharing. Seattle's residential median closed at $1,037,500 — up 3% from a year ago and the strongest price we've seen in recent months. By one read, the market is getting more expensive. By another, it's actually more affordable. Rates dropped from 6.82% to 6.44% year-over-year, and that shift trimmed the monthly payment on a median-priced home by $85 — about $1,000 less per year than buying the same home in May 2025. Prices are higher; the cost of owning is lower. That tension is real, and it matters for how buyers frame their timing. For sellers, the fundamentals hold. 68% of homes sold in under two weeks at 100.3% of original list price, and 36% closed above asking. Inventory sits at just 2.1 months — still firmly in seller territory. Price accurately and the market rewards it quickly. Overshoot, and the data is clear: homes past 30 days are settling below 97 cents on the dollar.
If either side of this is relevant to you right now, I'm happy to talk through what it means specifically. — Erik
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