Seattle, WA - Local Housing Data - Summary

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Seattle, Tacoma, Bellevue, WA

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Seattle, WA Local News

  • Affordability in America's Least, and Most-Affordable Markets

    As RealtyTrac chief economists Daren Blomquist takes a look at Seattle's booming population- it was recently ranked the fastest growing big city in 2013 by the U.S. Census Bureau--he logs in on some the least-, and most-affordable markets in the country.

  • Healthy Living in Seattle

    The client’s intense desire to live in a house that was good for her family and the environment inspired architect Bradley Khouri to design a multifunctional, incredibly green, and highly livable place.

  • Lyon Says Polygon Purchase Driven by Expansion into New Markets

    William Lyon's CEO Bill Lyon says the opportunity to move into Portland and Seattle justified the $520 million pricetag for Polygon Northwest.

Prices of New Homes Gain in Seattle, Sales Drop According to Newest Data

Posted on: Jul 06, 2014 07:33:54 AM

In April, there was a decline year-over-year in new home closings in the Seattle, WA market, and the percentage drop worsened from March 2014, indicating the market may be weakening. New home closings saw a drop of 17.3% from the year earlier to 537. This came on the heels of a 5.1% drop year-over-year in March.

A total of 6,879 new homes were sold during the 12 months that ended in April, down from 6,991 for the year that ended in March.

As a percentage of overall housing closings, new home closings represented 8.7% of overall housing closings. As a part of the whole, new home closings were 9.7% a year earlier. For new and existing homes, closings declined in April after also declining in March year-over-year.

Pricing and Mortgage Trends

Average price of newly sold homes had a 11.4% gain year-over-year to $450,329 per unit in April. This rise is smaller than the 13.2% surge in March year-over-year.

For newly sold homes, the average mortgage size saw a bump year-over-year along with new home prices. The average mortgage size saw a 10.1% boost year-over-year to $366,288 in April. In March 2014, average mortgage size on newly sold homes saw a 11.8% gain year-over-year from a year earlier.


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