The Nation’s Fastest-Rising Home Prices Award goes to …

Posted on June 2nd, 2017

The Nation’s Fastest-Rising Home Prices Award goes to …

The winner is Seattle!

According to the Puget Sound Business Journal, Seattle has the fastest rising home prices in the country followed by Portland and Dallas. In March, Seattle was in the lead with a 12.3% year-over-year price increase. Due to extremely low inventory, the median sales price for a single-family residential home in Seattle was at $722,000 and $880,000 on the Eastside during the month of April.

With low inventory, prices continue to rise. Many continue to move farther out of the city to find more affordable homes that will also satisfy their “housing” needs (even if that means a farther commute). April median prices for single-family homes increased about 16% in King County, 17% in Snohomish County, and 10% in Kitsap and Pierce County.

This is a sellers’ market. An economic situation in which homes are scarce and sellers can keep prices high. There could not be a better time to sell your home!

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