🏠 Median prices decline for second month in a row

We hope you had a great Fourth of July and long weekend!

This heat is crazy, but the real estate market is not heating up - the June numbers are in and the market cooled for the second month in a row. The median sales price for a single-family home (and townhome) declined in Seattle from a high of $958,000 this year in April to $933,500 in June. On the Eastside it has dropped from a high of $1,793,500 this year in April to $1,702,500. Expect the median price to continue to drop as the number of homes for sale grows (the number of homes for sale typically peaks in September) while buyer interest wanes like it usually does because everyone is on vacation over summer (buyer interest will rally after Labor Day).

Last week was a really slow week for new listings. Expect that to improve this week and for another week or two until everyone disappears for August.

— Matt Goyer, Land Cook, Maggie & Nancy

LINKS

• Seattle area home values rebound. Here’s what to expect (Seattle Times)

• In Manhattan Real Estate, Cash Is Everything (NYT)

• Early Microsoft employee linked to $13.5 million Kirkland home sale (PSBJ)

• Amazon exec lists Bainbridge Island custom-built home (PSBJ)

• Seattle apartments keep getting smaller (Axios Seattle)

• How fast is Seattle growing? It depends on whom you ask (Seattle Times)

NEW LISTINGS BY WEEK

HOMES GOING PENDING BY WEEK

HOT NEW LISTINGS
Eye candy

Last week’s eye candy winner - Kirkland modern

THAT’S A WRAP
Here are 2 ways we can help

1. Thinking of buying? We’ve helped hundreds of people find their dream home in the Seattle-area. We’d be happy to help you too. Just hit reply.

2. Thinking of selling? Hit reply, we can handle everything from start to finish but September is likely a better time to sell than over summer.