Seattle home prices on the rise again as supply shrinks

Seattle home prices on the rise again as supply shrinks

Home prices rose for the second month in a row in March, the Northwest Multiple Listing Service reported Thursday. One reason is an extremely low supply.

“Close to the job centers, 45 percent of new listings are selling within a single month,” J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, said in a listing service news release…

The median sales price for a Seattle house that sold in March was $397,000, up 3.1 percent from a year earlier, after a 2.8 percent rise in February. March’s median was up 8.8 percent from February’s, although seasonal fluctuations can complicate monthly comparisons.

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