As the last Tuesday of the month, S&P published their latest data as of March 2024, and we continue to see accelerating price increases month-to-month and a 7.8% increase year-to-year for the Seattle Metro Area. This growth is not unique to Seattle, as all metro markets have experienced the same.
“This month’s report boasts another all-time high,” says Brian D. Luke, Head of Commodities, Real & Digital Assets at S&P Dow Jones Indices. “We’ve witnessed records repeatedly break in both stock and housing markets over the past year. Our National Index has reached new highs in six of the last 12 months.”
Explore the latest data below and reach out to a trusted Realogics Sotheby’s International Realty advisor to guide you through this seller’s market, whether you’re searching for your dream home or looking to capitalize on the lack of inventory and make a successful sale.
As a reminder, the S&P data is based upon resale of single-family homes and doesn’t include new construction of any kind, or condominiums. It also speaks for the tri-county area being King, Snohomish, and Pierce counties.
Affordability remains a greater issue with rising home prices and elevated mortgage rates. Explore RSIR’s recent blog providing insights into Seattle’s condominium market’s inflection point plus coverage from Seattle Agent Magazine.
For insight from RSIR’s President and CEO Dean Jones on the “condominium conundrum” check out this breakdown.