Seattle region home sales increase in January

Home sales in the Seattle rose to the highest level for January in four years, according to research by DataQuick News. Improved affordability is attributed with the market change, driving the sale of homes listed under $200,000 up more than 30 percent in a year - ideal for first-time homebuyers.

There were 2,513 condos and new and resale houses for sale in Seattle closed during January in the Seattle-Tacoma-Bellevue metro area, which encompasses the King Snohomish and Pierce Counties. This is a 13.5 percent increase from a year earlier. January’s total sales fell 31.7 percent from December, which is normal, with a decline averaging 25.5 percent since 1994.

The sales were the highest for the month since January 2008 when 2,828 homes sold. The median home price of $238,000 for new and resale houses and condos sold in the area make the market viable for homebuyers. 

January’s prices have decreased and thereby increased affordability. The median price paid per square foot for a resale single-family detached house was $143. Consumers may wish to consider purchasing a home in the current buyers market.