Seattle home prices continue upward swing

Seattle home prices and inventories have continued an upward trend the past three months, according to the latest Altos Research National Report.

The Seattle market, equivalent to the Census Bureau’s Metropolitan Statistical Area (MSA), showed an average sale price of $333,127 in April, $335, 425 in May and $337,666 in June – a modest increase of 1.36 percent over the past three months.

According to Altos, the seasonal spike usually levels around this time of year. The company is forecasting a price plateau in the fourth quarter of 2011.

The Altos 20-City Composite is based on repeat single-family home sales but not condominiums, town homes, or new construction homes. The company publishes statistical reports and data for more than over 20,000 zip codes in more than 200 metro markets around the county, including the 20 S&P/Case-Shiller markets.