Local Market Update – April 2017

While we finally saw an increase in new listings in March, there was an even greater jump in sales.Lack of supply continued to push prices to new record highs. For the fifth straight month, our region has experienced  the sharpest home price increases of any major market in the country. While that may be tough news for buyers, here’s the other reality: rents in the city of Seattle have increased 57 percent in the last six years.  Brokers are hoping that more sellers will jump into the market this spring to help meet buyer demand.