September 21, 2023
By Melissa Santos & Sami Sparber
Around 63% of Seattle-area homes in July were snapped up in two weeks or less, according to Redfin data shared with Axios.
Why it matters: Houses that stay on the market for more than a month are usually overpriced or in need of major work, according to Redfin deputy chief economist Taylor Marr.
Yes, but: Self-identified fixer-uppers are typically selling for less — and more slowly — than expected, according to Zillow data shared with Axios.
Zoom in: Burns said buyers are “really stretching their purchasing power” in the Seattle metro area — particularly in King County, where the median sale price was $821,000 last month, per the Northwest Multiple Listing Service.