Along with the beautiful sunshine, July also brought King County’s average home price down to $485,000. The relief was short-lived though, as prices soared back up to just under a half million dollars in August. We’re also seeing the biggest increase in inventory since February, with 1.36 months’ supply. Specifically in Seattle, inventory was up slightly, with a .91 months’ supply for August.
“The biggest challenges our buyers face are lack of inventory and the quality of homes to choose from,” MLS director George Moorhead said in a statement.
Now the big question is: will the King County real estate market see its typical and predicted deceleration in the coming fall and winter months? The market tends to grow colder, just as the days turn crisper.
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