With rent prices increasing at an even faster pace than home appreciation, it’s no wonder so many residents are opting to own rather than rent.
Monthly housing costs increased a modest 2% in Q2 over those in Q1 and 12% over Q2 of 2015.
Seattle experienced very strong price appreciation in Q2 as compared to the surrounding region.
Affordable North Seattle continues to be a hotbed of activity with price increases to show for it.
North Seattle (20.9%) saw the highest gain in year-over-year median sale price, followed by Madison Park-Capitol Hill (18.6%), Queen Anne-Magnolia (16.1%), Richmond Beach-Shoreline (14.4%), Lake Forest Park-Kenmore (14%), West Seattle (13.5%), Ballard-Greenlake (13%), and Mount Baker-Beacon Hill (11.6%).
Click here for the full report and to see how prices have changed in your neighborhood!
© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.