If you’re selling a small business in Seattle, your timing is spot on.
The median sales price for a small business in the greater Seattle area was the third highest in the nation in the third quarter of this year ending Sept. 30, at $413,000, according to the most recent data from BizBuySell.com, a highly trafficked business-for-sale marketplace.
Topping the Seattle area in the median sales-price measure are San Francisco, at $550,000; and Tampa/St. Petersburg, at $450,000. Trailing Seattle in descending order are Boston; Chicago; Washington, D.C.; Philadelphia; New York; Austin, Texas; and Portland, Oregon.
For the 407 small businesses listed for sale in King, Pierce and Snohomish counties during the third quarter, the median revenue was $600,000, up from $555,261 as of third-quarter 2018 ― and up from $577,000 in the second quarter of this year. A total of 54 sales transactions closed during the three months ending Sept. 30, BizBuySell notes.
Business sales during the period included a Mexican restaurant in King County that sold for $600,000, $100,000 more than the asking price; a painting contractor in Snohomish County that sold for its asking price of $875,000; and a catering company in Pierce County that sold for $345,000, which was $52,000 less than the asking price.
Nationally, nearly 2,500 small businesses were sold via BizBuySell’s online platform during the third quarter of 2019, an 8.6% decline year over year. Historically transactions remain high, but BizBuySell also points out that “uncertainty about international tariffs is creating a challenging environment for some sales