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40 percent of Seattle area homes sell above list

SEATTLE (AP) -- Almost 40 percent of homes sold for above list price between April and June in King and Snohomish counties.

The Seattle Times reports (http://is.gd/Q6z47y ) bidding wars are pushing up home prices in many, but not all, Seattle-area neighborhoods.

In the second quarter, the Seattle metro's housing market ranked sixth nationally for the share of homes sold above list. That puts Seattle behind only five places in and around the San Francisco Bay Area.

Real-estate brokerage Redfin says bidding wars are common in certain neighborhoods where there are few, well-located nice homes for sale.

Bellevue, Issaquah, Newcastle and Kenmore were the only cities in the region where more than half the single-family homes that sold went for above list price. In Seattle, nearly half the homes sold did.

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Information from: The Seattle Times, http://www.seattletimes.com

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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