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Seattle-Area Home Prices Approaching 2007 Peak Levels

Image: Trulia

When it comes to Seattle-area housing prices, we all like to look back at 2007 and realize how good homeowners had it. The Seattle Times wants you to know that those days might just be back.

In the first six months of the year, the median sale price of single-family homes in King County was $430,000, about 5 percent shy of the peak set in 2007. In the second quarter, the average price of King County single-family homes sold was $545,886, 10 percent higher than a year ago.

As we've noted before, the areas with the biggest gains also happen to be the most affluent. Mercer Island, Medina, Clyde Hill and Hunts Point have all seen sale prices more than 25% higher than last year. Here in Seattle, the Queen Anne-Magnolia area was called out as the best performer, seeing 19% annual gains and a median home price of $715K.

Other Seattle neighborhoods seeing huge gains on median prices of homes sold YOY include "Capitol Hill to Madrona," which was at $654K and the Ballard/Green Lake/Greenwood area at $491K.
· Region's home prices quickly returning to pre-crisis highs [Seattle Times]
· Seattle's One-Percenter Real Estate Market Is Booming [CS]