Written by William Hillis, Research Editor & Broker, RSIR
Monthly price growth has been slowing, but not among Seattle condos
We might be seeing the equivalent of an end zone dance for Puget Sound home prices. Yet according to the August results of the CoreLogic Case Shiller index, continued slackening in the monthly rate of growth is far from cutting Seattle’s year-long lead nationwide, and Seattle condominium prices have sustained their upward momentum.
Realogics Sotheby’s International Realty (RSIR) presents a look at the housing market trends for the third quarter of 2017, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.
According to NWMLS data for September, downtown Seattle values are skyrocketing as the median home price for in-city resale condominiums increased a staggering 35-percent year-over-year. The sharp increase in value is indicative of Seattle’s continued struggle with population growth, rising real estate prices for both renters and buyers, and a supply and demand imbalance with little relief in sight.
Market Experts Opine About the Region’s Meteoric Future as a Global City on the Rise
Scores of guests assembled at MG2 Architecture in downtown Seattle during an evening reception on September 28th about the future of the Seattle and Bellevue metro area in the next decade. The town hall-like event was a continuation of provocative conversations started during the BISNOW “State of the Market” event hosted earlier in the week, which was attended by more than 400 industry stakeholders and local media.
Written by William Hillis
After piling up serial outsized monthly gains, the CoreLogic Case-Shiller home price index for Seattle showed signs of fatigue in July, settling down to a “mere” 0.65 percent monthly rate of growth. The region’s index remains up a hefty 13.5 percent year-over-year, but the ascent had been slowing since April on a monthly basis. It is too early to judge whether this signals a turning point, or merely a brief chance for hesitant buyers to get aboard the Seattle market’s fast-moving train.
Heed the Call of the Waves
Life on the shores of Puget Sound, as well as its neighboring straits and harbors, lakes and archipelagos, offers all the pleasures and adventure that draw people to the water’s edge. Realogics Sotheby’s International Realty presents a look at the waterfront market trends for the first half of 2017, from the shores of Bainbridge Island to the Emerald City and the Eastside.
The seemingly unstoppable upward trek of Seattle’s home prices received special mention by the editors of CoreLogic’s Case Shiller Home Price Index, who observed that “Seattle prices are rising 5.2 percentage points faster than Portland, the city with the next highest increase,” and that “Seattle has seen the highest year-over-year percentage gains for the last ten months.”
Seattle’s ebullient housing market is boiling over into the rest of Puget Sound. As Seattle home prices continue to ascent unrelentingly buyers with fewer financial resources are depleting the housing stocks in smaller exurban cities and towns.
Realogics Sotheby’s International Realty (RSIR) presents a look at the housing market trends for the first two quarters of 2017, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.
Realogics Sotheby’s International Realty presents a look at the housing market trends for the first half of 2017 in 15 key markets from around the Puget Sound, from the shores of Bainbridge Island’s waterfront homes, to Seattle and beyond.