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Median Home Price in Seattle $465,000


Blog by Kristen Meyer | August 7th, 2013


Seattle has hit the $465,000 mark for median home prices as of July 2013.  Forgive me for sounding like your 5th grade math teacher, but let's remember what that means - half of the homes sold for above $465,000 and half below.  The median for Seattle condos is $282,000. What we're seeing is that the low inventory situation that fueled the bidding wars of spring continues despite the slight increase in listings. Homes that are priced right and well-presented are selling quickly.  I've talked to several homeowners who had thought about selling a couple of years ago but decided against moving because the value of their homes had fallen below what they could fetch.  Some of those people are able to sell now without having to think about a short sale.  Overall, we're still hovering at about 10% below the peak prices we saw in 2007.

It should be an interesting fall season with lots of homebuyers looking to lock in a low interest rate before they head up.  30 year fixed mortgages are still hanging out in the 4's.  Wondering if it's time to make a move?  Feel free to contact me to see what this means for you.  Kristen 206-353-7625.