June sees record-fast pace for home sales in Seattle
SEATTLE -- During the month of June, an average Seattle home was off the market in less than a week, according to a report by real estate company Redfin.
Denver, Portland, and Seattle were the fastest-moving markets, while other markets saw homes going under contract in 36 days - one day faster than in May.
"Every record in market speed and competition that was set in May was broken again in June," the Redfin report stated.
The median home sale price in the U.S. increased 7.3% from a year ago, making June the highest median sale price recorded since the company started keeping track in 2010.
In the Seattle market, the median home price rose to $525,000, a 2.9% increase since May.
The median number of homes for sale fell 10.7%, marking year-over-year declines. Across the board, June had a 2.5-month supply of homes, in Seattle and San Jose, however, each had less than a one-month supply of homes.
It's no surprise, then, that more than a quarter of homes sold above their list price, as well.
To learn about housing market trends and download data, visit the Redfin Data Center.