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Seattle Single-Family Home & Condo Prices Keep on Gaining

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Image: Peter Daniel

At this point, it would be shocking if prices didn't go up in Seattle.

Let's begin with Seattle-area single-family homes, which jumped 1.2 percent from November to October, which outpaced the Top-20 city average of 0.9 percent per the Case-Shiller index. That gain is actually slightly down from the 1.3 percent of the previous month, but that's hardly a sign things are slowing down.

That also makes it a 9.7 percent price gain on existing houses in King, Snohomish and Pierce counties over the course of the last year, the fourth-consectuve month that number rose. The Seattle region is now just 3.2 percent away from matching the July 2007 housing peak numbers. We won't talk about what happened after that...

Meanwhile, downtown Seattle condo prices continued their year-on-year rise, now up 17 percent from a year ago according The Mark Company's December trend sheet. Prices were actually flat month-over-month but new construction sales were way up, 93 percent higher than the previous month (27 sales).

According to Mark Company, there are only two Four Seasons Residences units on the open market while Insignia still has 119 for sale and Luma has 120 for sale. Not sure what's going on over at Gridiron because apparently they haven't sold a unit yet.
· Seattle area home-price gains outpace national rate [ST]
· The Mark Company December Trend Sheet [TMC]