Seattle’s red hot housing market is showing signs of softening, according to an article in the Seattle Times. The city’s median house price of $635,000 is down nearly $31,000 from the record highs reached last summer. On an annual basis, single-family home prices in the city rose only 2.7% compared to a year earlier, down from 24% annual growth last winter, the slowest home price growth in Seattle in almost 3-years.
However, condo prices show no sign of cooling down, with condominiums in Seattle surging 23% from a year ago, with the median price reaching $440,000.