Seattle Home Prices On The Rise

By VDB Compass
2017-05-24T16:00:00.000Z

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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