Seattle home values up 15 percent. What is your home worth now?

Home values across the country are up. In the Seattle metro area, property prices have increased by more than 15 percent from one year ago, based on figures from Zillow, an online real estate company, reports the Puget Sound Business Journal. The region’s median home value in July was $302,600, up 2.3 percent from June and up 15.3 percent from July 2012.
Based on figures from the Northwest Multiple Listing Service, The Seattle Times reports the following housing data:
The median price of single-family homes sold in King County in July climbed to $434,000, up 15 percent from a year ago and up 1.5 percent from June. The number of pending homes sales hovered above 3,000, the most since 2005. 
In Snohomish County, the median home price was $304,000, almost 12 percent higher than a year ago. 

Home values in Burien & Normandy Park, WA

Pierce County posted a 16 percent increase at a median home price of $195,000.
For King County, bank-owned homes made up just 9 percent of sales in 2013, compared to 14 percent last year, according to Richard Eastern of Bellevue-based Washington Property Solutions. Short sales comprised 13 percent of this year’s sales. Southwest King County had the lowest median price at $248,500, while the Eastside boasted the highest at $566,258.
Cash buyers continue to account for a fair portion of the market. Nearly 23 percent of June home sales in Greater Seattle were non-mortgaged purchases, according to San Diego-based DataQuick. Seattle’s real estate market continues to outpace the nation’s home appreciation rate of 6 percent with a median property value of $161,600.

Your source for Real Estate News for Seattle, Burien, Normandy Park and Des Moines.
 

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Posted on August 21, 2013 at 10:35 pm
Dustin Keeth | Category: Uncategorized | Tagged , , , , , , , , , , ,

One response to “Seattle home values up 15 percent. What is your home worth now?”

  1. Irphan says:

    Just when you think you’re making haaewdy If you are a buyer in this market, it was great to see that that new listings were up 13% over the past 7 days(compared to last year). That is, until you see that sales over the past week were up a phenomenal 50%.It only gets worse Yesterday, 21% of SFH were sold for list price or higher. With market conditions so favourable to sellers, you’d think the infamous shadow inventory would start to surface. Maybe it never really existed?

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