When Is the Best Time to Buy or Sell In Seattle?

• January: Home values appreciated by 1.2% compared to the previous month.
• February: A 2.3% increase was noted, reflecting growing buyer demand.
• March: Prices surged by 3.5%, aligning with the start of the busy spring season.
• April: A modest rise of 1.8% as inventory expanded.
• May: 2.7% appreciation, driven by peak sales activity.
• June: Prices leveled with a smaller 1.1% increase as inventory peaked.
• July: A slight dip in appreciation at 0.5%, signaling a summer slowdown.
• August: Prices stabilized with no significant changes.
• September: A decrease of -0.9%, reflecting the seasonal transition.
• October: Further decline of -1.3% as market activity slowed.
• November: Marginal change with -0.2%, indicative of buyer caution.
• December: Home values held steady, closing the year without significant fluctuations.

Despite monthly fluctuations, the King County market saw a net appreciation of approximately 8.2% over the course of 2023.

Seasonal Trends and Timing Insights

Real estate activity in King County follows clear seasonal patterns. Here’s a breakdown of trends across the year and advice for buyers and sellers:

Winter (December to February)

• Winter is the slowest season for real estate activity. Fewer listings and buyers make for a quieter market.
• December had the lowest volume of new listings and closed sales.

For Sellers:

• Pros: Motivated buyers during this time are often serious about purchasing.
• Cons: Limited buyer pool and weather challenges can make showings difficult.
• Pros: While you may be selling your home for less money than if you waited for the following spring, you are also able to buy sooner, getting ahead of the spring market appreciation as well.

For Buyers:

• Pros: Sellers active in winter are often eager to close, which could lead to favorable negotiations. Builders are also more likely to give price cuts and/or incentives to close a few more deals before year end.
• Cons: The only con of buying in the winter is the limited inventory. With fewer choices, the home you love may not come up for sale. But, if you can find a home you like and get a deal on it, it may be worth while.

Spring (March to May)

• New listings and sales activity peak during this period. The market is vibrant with buyer demand and fresh inventory.
• The highest volume of pending sales in King County was recorded in May, with activity spilling into June.

For Sellers:

• Pros: High buyer demand increases the likelihood of multiple offers, often leading to favorable sale prices.
• Cons: Intense competition among listings means your property needs standout marketing to attract buyers. If a similar home comes up on your neighborhood block the same week you list, this will detract from your buyer activity.

For Buyers:

• Pros: A surge in listings provides more options.
• Cons: Extremely high competition among buyers means you will have little to no negotiation leverage. You will need to be working with a highly experienced agent that knows the market and can help guide you in pre-inspections of properties and if its worth escalating over the list price for a home.

Summer (June to August)

• Activity slows slightly after the spring rush, but sales remain strong. Many buyers aim to close before the school year begins.
• June recorded the highest volume of closed sales.

Best for Sellers:

• Pros: Serious buyers remain active, especially those driven by school year deadlines.
• Cons: Some buyers may have already found homes, slightly reducing demand. Other less serious buyers may become distracted with the nicer weather, or on summer vacations.

Best for Buyers:

• Pros: Competition eases compared to spring, giving you more negotiating leverage.
• Cons: Prices remain high due to limited inventory.

Fall (September to November)

• The market transitions to a slower pace. Inventory levels improve slightly, but buyer activity begins to wane.
• September saw a 23.8% decline in closed sales compared to the spring peak.

Best for Sellers:

• Pros: Reduced competition from other sellers can make your listing stand out.
• Cons: Buyer interest declines as the holidays approach, potentially lengthening time on market.

Best for Buyers:

• Pros: Less competition allows for better deals and more negotiating power.
• Cons: Fewer listings may limit your options.

Key Takeaways

• For Sellers: Listing in spring offers the best chance to sell quickly and at a favorable price, while fall provides a unique opportunity to stand out in a less crowded market.
• For Buyers: Spring offers more options but higher competition, while winter provides negotiating power despite limited inventory.

While there are highs and lows in the market, it’s essential to buy a home you love. The right time may not align perfectly with market peaks or troughs, so being prepared and understanding seasonal market conditions will help you succeed. Whether it’s an intense market or a slower one, an experienced real estate agent is integral to making informed decisions and achieving the best outcome. HowToHouse helps you connect with experienced agents who can guide you through this process—take the quiz today!