Top Real Estate Agents in Seattle, Washington

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2023 Seattle, Washington Housing Market Summary

Seattle, Washington started 2023 with a total of 461 single-family homes on the market, with a median home price of $899,000 and an average price per square foot of $543. By the end of the year, inventory had decreased to 401 homes on the market (-13%), with a median home price of $975,000 (+8%) and an average price per square foot of $600 (+10%).

At the start of 2023, the median days on market (DOM) was 70 days – by the end of the year, median DOM had remained the same at 70 days.

Seattle started the year with 49% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 33% of Seattle homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Seattle started 2023 as a strong seller’s market, with an MAI score of 46; by the end of the year, the MAI had rose to 54 – a strong seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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