A summer of record-breaking prices for Washington homes
For those who have been following our red-hot local real estate market should not be surprised to hear home prices broke records in nearly every major Washington county last month.
A recent report from Seattle Times highlights a number of key stats:
In King County the median home sold for $727,500 last month, an increase of 7.2% year-over-year
In Kitsap, Thurston and Whatcom counties, prices rose 12% compared to a year ago, with median home prices at $428,193, $382,000 and $439,900 respectively
Homes in Pierce County experienced a 13% price increase to $425,000
In Snohomish County prices rose 15% year-over-year reaching an all-time-high of $575,000
A typical two-bedroom downtown Seattle condo now costs $681,750, an increase of 5% year-over-year
On the Eastside the typical home sold for more than $1 million, an increase of 9% from a year ago
Homes are selling so quickly that 45% of buyers have made offers on houses they’ve never visited in person, according to research from Redfin (source). The report also cited an example where a home in Bothell listed for $600,000 last month received 43 offers after it was toured 189 times.
You can read the full report from Seattle Times and an interactive map showing price changes here.
