Top Small Teams in Seattle, Washington – Ranked By Sides

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2022 Market Summary

Seattle, Washington started 2022 with a total of 127 single-family homes on the market, with a median home price of $969,999 and an average price per square foot of $617. By the end of the year, inventory had increased to 514 homes on the market (+304%), with a median home price of $892,500 (-7%) and an average price per square foot of $535 (-13%).

At the start of 2022, 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 25% 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 49% of Seattle homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Seattle started 2022 as a strong seller’s market, with an MAI score of 57; by the end of the year, the MAI had dropped to 49 – 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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