Though the Seattle market has seen a shift lately, the area is more expensive than ever. Seattle is now the seventh-most expensive metro area in the country for home prices, up from 11th place only four years ago. When the numbers are sliced to focus on cities, Seattle is now the third-most expensive city in the country for home prices, up from 10th place four years ago.
Mike Rosenberg | Seattle Times
Yes, there has been a shift in the Seattle-area housing market lately: Home prices in Seattle and the Eastside are down tens of thousands of dollars from the spring, the number of homes for sale is way up, and buyer demand is down.
Just yesterday, we reported that Seattle was surpassed by Las Vegas as the nation’s hottest housing market for the first time in almost two years, the latest headline illustrating that the market is finally starting to at least somewhat balance out between buyers and sellers.
But it’s important to note how small of a dent the shift in the last few months has made after years of skyrocketing home prices. The reality is that Seattle is more expensive than ever, compared to the rest of the country.
To read the rest of the article, click here: Seattle home prices have surpassed Los Angeles, New York and San Diego in the last four years