We may have shed the environmental phenomenon that had us running for air conditioners and cooling centers at the end of June, but Seattle home shoppers are still facing a scorching hot real estate climate.
June sales numbers from the Northwest Multiple Listing Service show that the area’s property market remains a veritable heat dome, with homes flying off the market at otherworldly prices. In King County, the median home cost rose to nearly $780,000. The average? Almost $975,000.
There was plenty of sticker shock in Seattle, but the area’s most pronounced bidding wars broke out on the Eastside, where prices easily eclipsed those from a year earlier. The median home in the Redmond/Carnation area sold for 51 percent more in June of 2021 than it did in June of 2020. And Mercer Island’s median property went for over $2 million.
All the while, inventory around Seattle remained exasperatingly low. It did climb a bit from May….