Median home prices in Seattle jump $22K in April
May 5, 2017, 10:16 AM
Puget Sound's housing prices continue to rise. (AP file photo)
(AP file photo)
Seattle’s real estate market is showing no signs of slowing.
The median home price in the city climbed another $22,000 to $722,000 in April alone, The Seattle Times reports. Just three years ago, a typical home would have only (ONLY!) cost you $500,000.
And there’s no escaping. On the Eastside, the median home price in April was $880,000, according to the Times. That number has skyrocketed 20 percent in a year; it’s the biggest increase since 2013, the Times reports.
Carrie Foley, managing broker with Berkshire Hathaway HomeServices Northwest Real Estate, told The Seattle Times there’s no sign of it slowing down. More buyers are choosing to waive inspections and contingencies, and offer more than the appraised value just to close.
The continued growth has many homeowners wondering about the potential of a bubble.
“My fears of a newly-developing bubble have not diminished,” said Diedre Haines, principal managing broker in South Snohomish County for Coldwell Banker Bain told the Times. “Prices are beginning to increase at unhealthy levels.”
But others say the steady population growth will support the steady climb in prices.
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