Home Business & Commerce Real Estate Market Update – August 2022

Real Estate Market Update – August 2022


angie-hall-real-estate-broker-agent-burien-news-gem-of-the-soundBy Angie Hall, Windermere RE & Belle Residence

We trust you are all enjoying this gorgeous summer we are so fortunate to enjoy in our “Gem of the Sound” community! Kayaking, paddle boarding, and evening sunset strolls have been absolutely spectacular this season.
With all the natural beauty surrounding us, it’s no wonder our Burien Real Estate Market remains so strong (despite all the crash and panic headlines).
Let’s take a dive into the current State of the Market.Even with the recent “surge” of listings, Burien remains under 2 months of inventory, indicating a seller’s market.Graphical user interface, chart Description automatically generatedMedian days to sell are still at historically low levels, just 6 days, meaning demand for our area is strong.Chart, line chart Description automatically generated
A very telling stat in the popularity of Burien is the huge gains in median sales price over the last 10 years, $330K in 2012…$850K in 2022 an increase of 158%!Chart, line chart Description automatically generatedFinally, new construction prices in Burien have far outpaced our neighbors to the north in West Seattle.

I think we can all agree we are so very lucky to call Burien our home; it truly is “The Gem of the Sound.” I hope you’ll continue to enjoy the remainder of our summer days and many wonderful local businesses!

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