This does not come as a surprise to most that due to low inventory and high demand, home prices in the Seattle area are arriving at record prices.
The median single family sales price hit $722,250 in Seattle last month, accorded to the Northwest Multiple Listing Service.
Fastest-rising home prices
Single-family home prices are increasing most in these areas (which only include submarkets with 20 or more April sales):
- Skyway: 31.3 percent (median April sale price: $472,500)
- Bellevue/East of 405: 27.4 percent (median April sale price: $936,250)
- East of Lake Sammamish: 25.2 percent (median April sale price: $871,000)
- Leschi, Mount Baker, Seward Park: 24.2 percent (median April sale price: $580,000)
- Bellevue/West of 405: 22.4 percent (median April sale price: $2,203,000)
Slowest-rising home prices
Single-family home prices are falling or rising by single digits in these areas (which only include submarkets with 20 or more April sales):
- Madison Park/Capitol Hill: -0.6 percent (median April sale price: $845,000)
- Enumclaw: 3.1 percent (median April sale price: $330,000)
- Kent: 6.6 percent (median April sale price: $373,000)
- North Seattle: 7.2 percent (median April sale price: $755,000)
- Des Moines/Redondo: 8.1 percent (median April sale price: $379,995)
To read more, visit the Puget Sound Business Journal.
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