The Puget Sound market continues at a steady pace compared to prior years. With the peak season for real estate now upon us, it is a good idea for sellers and buyers to start planning their timelines. Traditionally, in the Seattle Metro area, the strong late winter and spring markets are the best time for sellers to list their property and experts suggest listing prior to June 1st makes the most sense. Of course, life style choices often drive the decisions on when to list so some sellers may wait until after school lets out. But real estate professionals agree than now is the best time to list a home for sale.
While inventory continues to grow in many areas, we are still moving toward a balanced market and the current market still favors the seller. Analysts emphasize that the region isn’t in a “real estate bubble” but that home prices in the area are starting to match wages. Inventory and home values are modestly increasing which is another sign of a healthy market. In King County, the median single-family home price was $655,000 for February. Pierce County’s value came in at $355,000 and Snohomish County was recorded at $474,948.
Since news broke that Amazon will no longer place its second headquarters in New York, there has been discussion of what that means for the Seattle headquarters. The company has recently expanded office space to downtown Bellevue, and it may be that those who intended to be employed at the New York HQ2 will be displaced to Bellevue. More recently, Amazon has confirmed plans to sublease space in offices under construction in Seattle and on the Eastside, which draws much speculation that the growth of the company in the Puget Sound region will continue.