Seattle Housing Prices: When $1 Million is the New Normal!

If you thought home prices were high, Seattle has taken the crown with a median sale price of $766,725—ranking it as the third most expensive metro area in the U.S. But wait, it gets better (or worse, depending on your wallet): homes in Seattle are now averaging over a cool million! It’s hard to believe that the city once prided itself on affordable living. Those days seem like a distant memory as the job market continues to pull in newcomers, driving demand for housing through the roof.

John Manning, the managing broker at REMAX Gateway, has a front-row seat to this real estate rollercoaster. He recently pointed out that despite a nearly 50% increase in homes on the market compared to last year, prices don’t seem to be budging much. It’s a classic case of supply and demand, where even more homes lead to higher prices. Doesn’t that just make you want to start dumpster diving for your next “fixer-upper”?

Potential homebuyers are feeling the pressure, and Manning encourages them not to wait as prices are expected to keep climbing. If you were hoping for a discount, you’d better brace yourself. Real estate has proven to be a powerful tool for wealth building—just take a look at those price tags! So what’s next? Are we gearing up to see tiny homes selling for seven figures?

What do you think? Is it time to shift our home-buying strategies or continue risking it all for that dream house? Let’s hear your thoughts in the comments!

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