Seattle Market Update
The spring home buying season is in full swing! Yowza!!! Open houses are “mad” houses and bidding wars have returned. Home prices in the region have jumped up in the last couple of months.
King County’s median single-family house sold for 3.2% less in March 2019 than a year prior in March 2018. We saw home values dip between June 2018 – December 2018 but since the beginning of 2019, prices are definitely on their way up again. Single family homes (under $500,000 especially) have seen great gains and interest from buyers. The condo market is not quite as hot but we are seeing some gains here, too.
Both pending sales and new listing activity around Western Washington surged last month. Prices in Snohomish County jumped nearly 5.5 percent, while King County’s median prices rose more than 3 percent in March when compared to February.
The 30-year fixed-rate mortgage averaged 4.08% the first week of April, according to Freddie Mac. The 15-year fixed-rate mortgage averaged 3.56%.
Property Taxes 2019 – some up, some down
Did your property taxes go up or down for 2019? Here is a list of property tax rates for each city in King County. Some cities saw property taxes go up, some down. Some examples: Bothell up 14.6% (ouch!), Shoreline up 6.6%, Burien down 2.1% and Seattle down 1.2%.
5818 East Dr, Everett, WA – $310,000 – 3bed/1.75bath – For more information and a video tour, click here. UNDER CONTRACT.
20620 60th Ave W #F, Lynnwood, WA – $242,950 – 2bed/1.75bath – SOLD April 2019. Congratulations to our clients John C. & Mary H. on this sale.
Did you know?
The Seattle Kingdome was so expensive that the building wasn’t paid off until 2015 – a full 15 years after it was demolished.
Thank you to Jennie J. & Edie T., Stacey K., as well as Taylor S. for the referrals!
We’d love to hear from you
Any questions, comments, or feedback? Contact us any time.
Brooks & Heinze Team at Skyline Properties, Inc.
Kerstin Brooks: 206.276.5827 &Krisanne Heinze: 206.920.2541