Photo: Chris Butterworth
Home sales in eleven major West Coast markets fell 13.4% in February 2014 from the year before, hitting a five-year low in the first two months of the year, according to Redfin. Here in Seattle, home sales are down just over 5% over that time. Also down is the number of homes for sale (8,820), 9% less than this time last year.
Redfin blames steep price increases for the drop-off (Wait, we thought it was cause of the Seahawks?!?). The median February home sale price in Seattle was $310K, up 11% from 2013.
· West Coast Home Sales Hit Lowest Point in Five Years [Redfin]
· Seattle Home Sales Are Down Because Of The Seahawks? [Curbed Seattle]