Home values have shot up in Central Seattle Washington! The median home price was $606,500 in February an increase of $100,000 since December.
There appears to be a renewed interest in Central Seattle homes with the sale of more mid to upper end homes. It is a welcome change for home owners who have seen the value of their home decline substantially.
This increase may be represented by just a spike in the graph below because next month the median price home will likely be under $550,000.
The number of homes sold in Central Seattle continued to drop from 113 in December, to 89 in January, to 64 in February.
Similar to North Seattle the number of pending homes is skyrocketing in Central Seattle. In December there were 89 homes pending to sell, in January there were 109, and in February there were 132. Strangely, these pending numbers aren't transferring to more homes selling. This may be due to the fact that it's taking longer for deals to close, or there is a body of Buyers who are having difficulty getting a loan.
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