Seattle Market Update – May 2013

April was a very active month for the Seattle housing market. Inventory is increasing…and so are prices.

Rising home values have enticed sellers to put their homes on the market. April saw the highest month of new listings since June 2011. While buyers now have more homes to choose from, the influx of new inventory is still is not meeting demand. Multiple offers are the new norm for any home that is priced correctly.

Homes in King County continued to appreciate . In April, the median selling price of a single family home was 11% more than a year ago. We’re in the peak selling season now, and expect to the strong activity to continue through the summer.

Want to know what’s happening in your neighborhood? Check out our monthly Neighborhood Report for:

Laurelhurst

Windermere

View Ridge

Sand Point Country Club

Bryant

Wedgwood

Capitol Hill

Madison Park

Montlake

Portage Bay