News Update : Seattle-Area Home Prices Fell In 2023 After Years Of Growth

Victor K • January 23, 2024
A woman is sitting on a balcony holding a glass of wine.

2023 saw a dip in the housing market in Seattle, something that has not been seen over the last few decades. This was mostly due to the impact of higher mortgage rates, affecting both buyers and sellers alike. The extreme double-digit price spikes of the early pandemic years had given way to a more modest correction. However, there was a cooling trend observed in 2023 but it varies across the state of Washington. However, it declined in the areas near and around Seattle. King County, Snohomish County, and Pierce County experienced year-over-year drops in median home prices, marking the first time since 2011 that all three counties saw declines. Kitsap County was an outlier, maintaining a flat median price from 2022 to 2023.

 

Even with a small cool-off period, the affordability of house buying remained a challenge as median-income households could not afford the mortgage on average home prices. Only three out of forty-nine Washington counties were deemed possible for house purchase keeping a 20% down payment in the picture along with limiting mortgage payments to 25% of the household income (gross).

 

However, as per research and analysis carried out by a team at United Seattle, the price dips were not enough to cater to the rapid price increase seen in the pandemic era. For example, King County saw a 30% increase in home prices as compared to 2019. The sudden rise of work from home made the property value of outlying areas of Seattle see a sharp increase as well such as Snohomish County (48%) and Pierce County (45%) as compared to 2019. 

A sunset over a park with a row of houses in the background.

A  new trend was seen as buyers shifted their focus to affordable condos and renting spaces. While single-family home prices dropped in King County, the median condo price increased by 2% in 2023. Seattle experienced a 4% increase in median condo prices, reaching $558,000, while the Eastside saw a 1% dip to $617,000. Buyers who could have afforded single-family homes in 2020 or 2021 found condos to be a more accessible option.

 

The reduction of the market was seen through the lesser amount of house-selling deals in Seattle due to higher interest rates. Year-on-year condo sales dropped in King County (24%), Snohomish County (26%), Pierce County (27%), and Kitsap County (22%). Furthermore, rising mortgage rates (around 8% in October 2023) made buyers change their minds. This was reflected in a lesser number of listings which contributed to the shortage of available homes, preventing prices from falling further.

A large white house with a blue roof is surrounded by trees and grass.

New construction in 2024 could change the market scenario reducing the shortage on the market. However, increased interest rates and construction costs across the state might have yet another say in this. In 2023, homebuyers in King County experienced relief with fewer bidding wars. Single-family homes sold for just half a percent above list prices, a departure from the competitive 2021 and 2022 environment. Listings also took five to six weeks to sell, offering buyers more decision time compared to the rapid sales of less than two weeks in 2021.

 

The housing market has started showing signs of improvement in the early part of 2024 as buyers and sellers walk into a more stable market. This will also give a little more financial room for buyers to include home inspections and renovations in their buying plans. Even with the current challenges, the Seattle housing market seems to be moving in a positive direction calling out for cold buyers who were waiting for the right time to move from rental to permanent housing situation.

By Victor K July 23, 2025
Seattle has not only seen a boom in the ADU construction but also a requirement for commercial subcontractor Seattle that specialize in ADU construction has gone up. Setting up ADUs is not as costly as a DADU but it requires time and skill. Generally, the GCs outsource these projects to construction management subcontractors like United Seattle for a number of reasons. The foremost reason is the trust people at United Seattle have earned for all GCs and homeowners they have worked for. However, the trust does not come easily but with dedication and hard work. Some of the USPs of this great company are listed which are not their self-proclamation but genuine reviews from people who have worked with United Seattle over the years. Experienced In ADU Construction United Seattle and its experts have been in the middle of the whole ADU construction/designing boom since the very start. Not only do the experts have all the requisite technical knowledge but a deep insight into the permit process as well removing lags from your project even before the first brick is laid down. Because they are seasoned in ADU workflows, it helps the clients save time, money and client frustration. 
By Victor K July 21, 2025
With the pro-construction laws being enforced in Seattle, all commercial subcontractor Seattle and GCs are extremely happy. This is because of the updated ADU codes in 2025. For a GC, DADU offers a steady stream of income. More of it when these small projects are outsourced to an able commercial construction subcontractor Seattle, like United Seattle . Today, we look at some of the phases of the DADU construction where the paths of a GC and commercial project management Seattle cross, creating the perfect balance for the ideal construction subcontracting services Seattle. What Is A Detached ADU Or DADU? A detached ADU or DADU is a standalone living space made on a property that already has a primary building. There are a number of advantages associated with a DADU, which include, but are not limited to:- · Increased living space for family members and/or home office. · Potential for additional income through long/short-term rentals. · Enhanced property value. Now let’s move on to a generic breakdown of the phases involved in the construction process for a building subcontractor Washington to work upon. If the plans are made before the phase time, the construction goes hassle-free increasing your free time, lowering your cost and increasing your market reputation, all at the same time. Pre-construction Phase Laying the correct groundwork is the ideal start for any DADU project for a commercial subcontractor Seattle. GCs require a commercial construction subcontractor Seattle that can dive into the planning phase and come up with as many details as humanly possible. By planning some of the key aspects of the construction, a building subcontractor Washington can surely eliminate all later disputes/delays in the project. 
A man and a woman are looking at a laptop on a construction site.
By Victor K July 16, 2025
Any commercial subcontractor Seattle will tell you that there is a low-hanging fruit in the Seattle construction market called ADUs and DADUs. The construction and permit process is much simpler than an altogether new project. This is mostly because the main structure is available and all you have to do as a commercial construction subcontractor Seattle is manage the process for your clients. The profit is there to be made but we dive into a topic seldom taught in design school. This deals with maximizing profit through small changes as a commercial building services Washington. However, we need to get some of the basics right before we fall into the details of the money-saving / making process. DADU vs. ADU One major advantage of a DADU is that it is a separate living space and can be used for parents growing teenagers or college-returning kids. It can also be rented out making it a money-making option. These are also great office spaces and workspaces since they offer privacy from the main house. However, making a separate structure requires considerable investment and structural changes. In the case of an ADU , an existing space can be simply renovated to make it workable. Budget and current structure can be a big factor in going for an ADU rather than a DADU.' DADU benefits: - Increased living space for family members and/or home office. - Potential for additional income through long/short-term rentals. - Enhanced property value.  ADU benefits - Potentially higher Return on Investment compared to DADUs for resale. - Opportunity to upgrade home's electrical, windows, insulation, heating, and plumbing, resulting in improved energy efficiency. - Potentially more flexibility compared to size-restricted DADUs. - Suitable option if the home does not meet the city's requirements for DADU, such as lot size or setbacks.
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