East King County Prices Heat up to Million Dollar Median Price

SEATTLE — February is typically a slow month for home sales due to weather. But this year while the month has been chilly, home sales remain rather hot

The Northwest Multiple Listing Service says in its February report that the median price for a home in Seattle is $777,000 — a 20 percent jump from January, which was a record then.

It’s even a greater pace of acceleration on the Eastside, where the median home price is nearing $1 million at $950,000.

Another benchmark was reached in the Seattle condo market where the median price was $535,000, surpassing the half million mark for the first time.

If all of this has you running for the outlying areas, you won’t find a whole lot of relief. Snohomish and Kitsap County prices are up more than 17 percent.

All of these numbers are about 50 percent higher than they were in 2007 before the recession hit.

Experts predict prices will continue to go up through the summer, which is when sales go up anyways because of the better weather.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Powered by WordPress.com.

Up ↑

%d bloggers like this: