Although home prices have ticked down in recent months, it's not much consolation in Seattle. Home costs in the city and across all of King County are both up about 10% compared to a year prior, reports Mike Rosenberg of The Seattle Times.
The typical Seattle house now costs $630,000, up 10.3% from a year ago, according to the Northwest Multiple Listing Service.
There are some positive signs for buyers, according to Rosenberg.
For the first time in the last few years, a significant number of additional homes are finally starting to come back on the market for sale. The number of houses for sale in the county is now at its highest point in two years, although it still has a long way to go to get back to “normal” inventory levels. That could help bottle up the recent bidding wars and price spikes that came about as a result of the historically low supply of homes on the market.