Seattle home prices just ranked last among the 20 major markets tracked by the Case-Shiller Index, falling 2% year over year. So what’s actually happening in the Seattle housing market—and does this mean prices are headed for a bigger decline?

In Episode 3 of Keys & Context, I break down why Seattle home prices are softening, including rising inventory, affordability challenges and a market where not every home or neighborhood is behaving the same.

We also cover:
• Why new-construction sales are slowing
• Why builders may be more motivated to make a deal than traditional sellers
• How builder incentives, rate buydowns and closing-cost credits can change the math for buyers
• Why the more expensive new home can sometimes have the lower monthly payment
• How Seattle’s changing zoning rules could affect property values
• Why a property’s development potential can sometimes matter as much as the house itself
• Why zoning alone doesn’t automatically make a property more valuable
• Whether there’s a catch when a builder offers $20,000 in incentives and a lower mortgage rate
• Whether you should inspect a brand-new home—even when it comes with a warranty
• Why sewer scopes can still matter when buying a home

Keys & Context cuts through the real estate noise with the news, numbers and context you need to make better decisions in the Seattle and Puget Sound housing market.

Have a real estate question you’d like me to answer in a future episode? Send it to me on social media @BrianRichmon.

Learn more:
https://brianrichmon.com/

Follow Brian:
Instagram: https://www.instagram.com/brianrichmon
Facebook: https://www.facebook.com/brianrichmon
TikTok: https://www.tiktok.com/@brianrichmon
LinkedIn: https://www.linkedin.com/in/brianrichmon/

Brian Richmon
Real Estate Broker | Compass
Serving King & Snohomish Counties and the greater Puget Sound

Disclaimer:
This content is for general informational and educational purposes only and is not legal, financial, tax, lending or investment advice. Real estate markets and individual circumstances vary. Information is believed to be accurate at the time of recording but is not guaranteed. Consult the appropriate licensed professionals before making real estate, financial, legal or tax decisions.

Brian Richmon is a licensed real estate broker in Washington State with Compass.

Seattle’s housing market is starting to split in very different directions. In Episode 2 of Keys & Context, I break down why some downtown Seattle condos are selling for less than they did 10, 15, or even 20+ years ago—and what that tells us about today’s market.

We also cover:
• Why some Seattle condos have barely appreciated—or lost value
• The impact of HOA dues, reserve studies, insurance and CC&Rs
• Why Seattle pending home sales are slowing
• Why more real estate deals are being cancelled
• How increased inventory is giving buyers more negotiating leverage
• Would you offer $750K on an $850K home?
• How much should you fix before selling your home?
• Why I generally recommend sellers prepare, not remodel

Keys & Context cuts through the real estate noise with the news, numbers and context you need to make better decisions in the Seattle and Puget Sound housing market.

Have a real estate question you’d like me to answer in a future episode? Send it to me on social media @BrianRichmon.

Learn more:
https://brianrichmon.com/

Follow Brian:
Instagram: https://instagram.com/brianrichmon
Facebook: https://www.facebook.com/brianrichmon
TikTok: https://www.tiktok.com/@brianrichmon
LinkedIn: https://www.linkedin.com/in/brianrichmon/

Brian Richmon
Real Estate Broker | Compass
Serving King & Snohomish Counties and the greater Puget Sound

This content is for general informational purposes only and is not legal, financial, tax, lending or investment advice.

Should you wait for mortgage rates to drop before buying a home? In the first episode of Keys & Context, I break down what’s happened with mortgage rates over the past four years and why trying to perfectly time rates may not be the best strategy.

We also cover:

• Why rising inventory is changing the market for buyers and sellers
• Pricing, preparation and presentation when selling
• Whether staging is worth it
• When a pre-listing inspection makes sense
• Whether you really need 20% down
• Property assessments and property-tax appeals
• San Francisco’s AI-driven housing market and whether Seattle could see something similar

Keys & Context cuts through the real estate noise with the news, numbers and context you need to make better decisions in the Seattle and Puget Sound housing market.

Have a question for a future episode? Find me on social media @BrianRichmon.

Brian Richmon
Real Estate Broker | Compass
Serving King & Snohomish Counties and the greater Puget Sound