Home Value Appreciation in Seattle is Growing Twice as Fast as in San Francisco
Great news about the national median home values usually means great news about the sizzling Seattle market. As it turns out, September was no exception – per Zillow’s September 2017 market report which studied thirty-five large metro areas, home values in Seattle continue to skyrocket.
While the national median value rose just shy of 7%, Seattle’s growth is at 12.4%. Yes, Seattle-area residential real estate was over twelve percent more valuable in September 2017 than at the same time in 2016! San Jose came in at second place with a 10.3% growth and Las Vegas rounded up the top three with 10.2% growth in median home values year-over-year while San Francisco saw a growth of 6%, according to the informative report.
Svenja Gudell (Zillow’s Chief Economist) has reassuring news for those worried about a real estate bubble caused by such astonishing growth. According to Miss Gudell, the growth is caused by “basic economic laws” – interest rates and low supply are a few of the factors mentioned in the report.
Zillow’s report can be viewed here in its entirety – we urge you to check it out!
While Zillow reports that there were 35% fewer listings in Seattle as compared to September of 2016, the Stroupe Group continues to successfully represent many buyers, often in multiple offer situations. If you would like to discuss buying or selling real estate, please contact us at email@example.com or 206.910.5000Email