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Repent & Refinance: Seattle median single-family home prices now $666K

Seattle’s median single-family home price in June was $666,500

Now you’ve done it, Seattle. You’ve turned the housing market into the devil’s plaything.

Per the latest figures from the Northwest Multiple Listing Service, Seattle’s median single-family home price in June was $666,500. Overall, home prices are now up 15.9 percent over the last year and 74 percent over the last five years.

Looking at median prices county-wide, King County hit a new high for the fifth-consecutive month ($574K) while Snohomish ($395K) and Kitsap ($299K) also remain on the rise. Only Pierce County ($284K) saw a dip in overall median prices last month.

One silver lining is that housing inventory appears to finally be creeping upward. The number of available homes in King County rose 17.8 percent from May, a huge boost to a market desperately in need. Since bottoming out in November, housing inventory has been slowly rising since. This boost, however, could possibly be a sign that things are beginning to even out. Probably not, but we can hope.