The median sale price for homes in Seattle has increased by more than 12% since the beginning of the year, according to the latest data from ZeroDown.com.
The median home sale price for the week ending Feb. 20 is $780,000, up from $694,500 for the week ending Jan. 2.
The numbers suggest Seattle’s surging home prices have not slowed, even as some real estate experts have projected a cool down later in 2022, due in part to projected mortgage rate increases.
Inventory continues to be a problem, and the homes that do hit the market are being snapped up quickly. Median days on the market for Seattle homes plummeted from 72 at the start of the year to just 16 days as of last week, ZeroDown reported.
The median price per square foot in Seattle was $613 last week. It was $566 at the start of the year and $438 three years ago.