Home values have shot down in Central Seattle Washington! The median home price was $606,500 in February but has decreased to $498,750 in March.
I suspected the increase in home values in February was a spike but I did not expect it to be followed by a decrease of $100,000. The upper end home buyers are still on the fence while first time home buyers are out in great numbers. For that reason the median price of homes in central Seattle is getting hit hard.
The number of homes sold in Central Seattle has skyrocketed from 64 in February to 113 in March. Similar to North Seattle the number of pending homes continues to skyrocket with 172 homes pending in March. The number of closings should continue to increase for the next couple months.
Thanks for reading! -Andrew
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