Seattle Home Price Increases Continue at a Smaller Rate
The good news for buyers continues pouring in, with low interest rates and prices inching only slowly upwards, despite the market picking up and inventory levels rising – just in time for spring.
According to the Northwest Multiple Service’s report, single family and condominium prices on average rose slightly last month as compared to April of 2018 – only 2.4% area-wide. Eight of the counties reported large, double-digit increases in sales prices, with Mason county leading with 24.9% year-over-year jump. However, six counties reported decreases from April 2018 to April 2019: Clallam, Clark, Ferry, Island, Jefferson and King.
While the inventory of condominiums continues to improve, the prices have dipped. There were 75% more condominium units on market in April of this year as compared to last year – yet the prices dipped 3.2% system-wide. The condominium prices in King county have continued to fall as inventory increases. There were an astonishing 122% more condominiums on sale last month as compared to a year ago, while prices have dropped about 9.6%.
While the gains might seem slow, the market seems to slowly be inching away from a sellers’ one to a more balanced one. We will make sure to keep you updated on the market. Thinking about buying or selling? We’d love to help! Contact us at firstname.lastname@example.org at 206-910-5000Email