Seattle: Market Still Performing Well
While many real estate markets across the country are feeling the pain of the current housing slump, a few are still doing quite well. Among those dancing the happy dance is Seattle. Recent National Association of Realtor (NAR) data showed that the median home sale price in Seattle was $380,200 during the first three months of 2007. That’s a 12.3% year-over-year increase.
Driving the market’s positive, steady growth are several facotrs including strong job and population growth, a relatively low unemployment rate (under 4%), and a market which never experienced the rapid run-up on prices that many overheated markets did.
Seattle can puff out its chest a little more at another good piece of news. With the national median house price currently sitting at $212,300, Seattle can also say that it was the only market where single family houses were priced well above that average.