Seattle home values up $80K over last year

[Yo_Mama_Been_Loggin]

Spring home shopping season has arrived in Seattle, and buyers should be ready for a red-hot market fueled by high demand and low inventory that is driving up values.

Case in point: a new market report from Zillow found that Seattle home values have increased by nearly $80,000 over the last year.

The typical home in the city is now worth $627,290, up a staggering 14.6% since last April and 1.7% from March 2021. Across the country, typical home values increased a record-high 1.3% in April to an average of $281,370, up 11.6% in the last year.

-snip-

A majority of homes in the Emerald City — 52% — also sold above the listing price in February, although some downtown condominiums have started offering limited-time price reduction to attract buyers. The report also found that homes are going under contract in just six days in Seattle and seven days nationally.

https://www.msn.com/en-us/money/realestate/report-seattle-home-values-up-80k-over-last-year/ar-BB1gSwe3

[leftieNanner]

1. Home prices in Ashland Oregon

Are crazy!

I won't even mention our old house in California that just sold.....

[MichMan]

2. People should be taxed 50% on the profit when selling their homes

They didn't do anything to deserve the windfall other than just living there

[Hoyt]

3. Think some tax should be paid. As is, over $250K profit for single person

is taxable. Lots of folks have that profit.

Mortgage deduction, exemption on profit, etc., are popular loopholes.

[jimfields33]

4. I don't think that would be popular with anybody

I mean some are upset with SALT. 50 percent tax on a sold home? Yieks. Plus most use money to purchase new home which is often more money until retirement when they may go smaller.