Puget Sound Real Estate Experts See Fall Slowdown Beginning

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KIRKLAND, WA — A seasonal slowdown is beginning to emerge in Puget Sound’s red hot real estate market, with brokers already seeing customary dips in prices and activity heading into the fall. Northwest Multiple Listing Service’s August report, which tracks the trends in 26 counties, found monthly declines in listings, inventory, pending and closed sales, and median prices, though asking prices remain well north of where they were a year ago.

“August showed a more traditional seasonal pattern with decreased activity as families took end-of-summer vacations and made back-to-school preparations,” said Frank Wilson, a broker at John L. Scott Real Estate. “We saw a dip in open house traffic overall, although some new listings were overwhelmed with traffic, depending on the price point. We are seeing homes stay on the market slightly longer and more instances of sellers overpricing their properties.”

The report found new listings for single-family homes and…

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