In the third quarter, the Seattle-Metro residential market saw the strongest year-over-year price gains in our region.
The average sale price was up 9% and the average median price up nearly 10% as compared to the same quarter last year. A shortage of available homes for sale continues to dominate the most active price points in the Seattle area. The resulting multiple offers continued to drive sale prices up an average of 1% above listed prices.
Market time, at only 27 days from list date to sale date, is by far the lowest in recent history and far lower than market times on the Eastside and in the surrounding regions.
The nicely rebounded Seattle condo market saw the average sale price increase 9% over the 3rd quarter of last year. The average cost per square foot, a decisive measurement in condominium values, was up nearly 10% over that of the 3rd quarter of 2013.
Click here for the full report and to see how prices have changed in your neighborhood!
© Copyright 2014, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.