Median Price for Seattle Single Family Home Levels Off From May to June
If you read the latest from the Seattle Times at the link below you will note that the new real estate writer and I do not have quite the same perspective on the local market. He sees the Seattle market “cooling” and I see it on an upward swing, recovering after a huge downturn in the second half of 2018. Consider, from May to June there was a slight seasonal (May being the peak month) decrease in median price for Seattle single family homes, from 785K to 781K, but compare that 4K drop to an 18K drop in the same time period in 2018. Also note that the 3.9% drop in year over year median price (from crazy peak 2018 numbers) is the smallest drop of any month so far this year. We haven’t quite made up for the dramatic second half downturn of 2018, but we’re getting there and so far it’s been a healthy and balanced market in 2019. (Since January the median price for a single family home in Seattle has gone up almost 70K.)
June 2019 year over year market statistics:
Median price, single family homes; Seattle down 3.9%, Eastside down 2.8%, North King County down 11.4%, overall King County down 2.3%, overall Snohomish County down 0.07%.
Median price, condos; Seattle down 6.2%, Eastside down 2.6%, North King County up 10.8%, overall King County down 2.3%, overall Snohomish County up 7.6%.
2019 Seattle single family home median price by month: January: 712K, February: 730K, March: 753K, April: 754K, May: 785K, June: 781K
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