Home values in Seattle stayed the same in October compared with September, and are up nearly 14 percent from a year earlier, according to a new study by Zillow.com.
The median home value in Seattle is $306,000; nationally its $162,800, according to Zillow.
The Seattle company (NASDAQ: Z) reported Seattle performed better than the national average, which saw a 0.1 percent drop in home values from September to October. Nationally, home values have increased 5.2 percent for the year.
"The conditions that led to the robust appreciation experienced earlier this year, including historically low mortgage interest rates, high affordability, low inventory and high demand, are waning. In their place, we’re beginning to see more inventory and rising mortgage rates," said Stan Humphries, Zillow chief economist, in a statement.
Ben Miller Contributing Editor-Puget Sound Business Journal