The official report from Case Shiller noted that “Seattle, Las Vegas, and San Francisco reported the highest year-over-year gains among the 20 cities. In November, Seattle led the way with a 12.7% year-over-year price increase, followed by Las Vegas with a 10.6% increase, and San Francisco with a 9.1% increase.”
Examining the S&P Case-Shiller National Home Price Index, the home prices in the Seattle Region have risen by 11 percent between September 2015 and 2015, surpassing Portland which has had a 10.9 percent increase during this time period. Here is what you need to know about the causes and effects of Seattle’s booming housing market.
November's numbers are in and the Bainbridge Island real estate market inventory continues to wane, as the number of active listings was down nearly 20% month-over-month. Sales also decreased, as the number of units sold was down nearly 30% compared to October's numbers. Given the anemic inventory, however, the median listing price increased $90K from the previous year to $875K. And buyers made their presence felt as the median sale price of $690K was up over $175K compared to last year. Along with increased prices, homes sold in an average of just 23 days on the market, down 62% from the previous year.