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All the latest news articles and market trends of the Seattle Real Estate Market. If it is happening in Seattle it is happening on the Stroupe Group.

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%. 

Condominium prices continue dropping – almost 9.6% in the last month, as compared to April 2018.

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 contact@stroupe.comor at 206-910-5000

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