2016 is in the books!
As buyer demand continues to outpace supply, Seattle saw the median sale price of homes climb 12.7% last year. Our robust seller’s market is expected to carry on through 2017, driven in part by a continued lack of inventory. Each part of our metro area is unique, so check out the full report to see how your area fared.
With Seattle’s robust job growth in the tech sector, Seattle is a changing city. Expect to see prices continue to climb in 2017, but less than last year. Personally, I’m bullish about our outlook for the next few years, but I’ll be telling my clients and friends to be disciplined about their home search. Don’t let the crazy market cause you to lose sight of your needs and priorities, and find a place you can stay for five or more years if you’ll need to sell in order to buy your next home.
The graphic below takes a look at 2016 market appreciation by area. Note a shift toward the suburbs as the closer-in areas become less affordable. View the full reports:
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