Workers’ comp rates to jump in Amazon’s Washington fulfillment centers due to hazards, Amazon is laying the groundwork for its own quantum computer, More than half of emergency small business funds went to larger businesses, new data show, Judge throws out Trump rules limiting skilled-worker visas, Typically, April, May and June are his busiest months, he said. Seattle-area home prices drop again â down 11 percent in last six months. Further out, prices continued to riseÂ â including by double digits in places like Black Diamond, Woodinville and Duvall. Brokers say that’s a sign some inventory was overpriced before the pandemic. Over the last three months, the price of a home in the Seattle area dropped by 3.3 percent, the largest decrease in the U.S.The median price of a house in Seattle is now $750,000. As of May 3, the number of listed homes was down 39% year-over-year, with listings among the priciest fifth of homes down 46%. Inventory is especially tight in King County: Just 2,513 homes were on the market here in May, 44% fewer than were for sale last year. The opinions expressed in reader comments are those of the author only, and do not reflect the opinions of The Seattle Times. How does Washington's outbreak compare to other states. She ended up booking a room at an Extended Stay America with her dogs, where for a couple days, she succumbed to the temptation of watching prospective buyers tour her home via security camera, until one impugned her water heater. Prior to the pandemic, BofA had estimated that home prices would increase 4% to 5% in 2020, but now it forecasts that home prices will drop until they hit a bottom in April 2021. For-purchase mortgage applications have fallen 31% from a year ago, but have recently shown some signs of stabilization. The survey also found that the July median home price in the Seattle area was 2.6 percent lower than it was in June - an average drop of about $14,000 per home in one month. In the single-family market, housing-market watchers predict prices will fall nationwide by 2021 as mortgage forbearance runs out and struggling homeowners are forced to list their properties. In the shifting West Seattle submarket, now cut off from its direct access to downtown due to the closure of the West Seattle Bridge, the median price was $670,000, up 3.4% from the year prior. SEATTLE - Home prices in the Seattle metro area fell last month, according to a new report released Monday. Home prices are undoubtedly dropping in the Seattle metro area, but this isnât a cause for panic amongst investors. The average sale price of a home in Seattle was $747K last month, up 6.9% since last year. Even though home prices in Seattle are dropping, they remain high. In wake of COVID-19, buyer demand is showing through, and U.S. home prices arenât expected to drop more than 2-3%, according Zillow. Seattle City is the 24. largest city in the United States, located in Washington State.. During the last 12 months the real estate prices in King, Seattle City decreased, looking at the past 12 months.. Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $510,400 loan, last yearâs payment was $234 higher than this weekâs payment of $2,355. One wasÂ a midcentury modern Magnolia three-bedroom with 10 offers that sold for an all-cash $1.2 millionÂ â $225,000 more than asking.Â. Inslee's limited reopening of Washington's public lands: Will public test limits? Now, prices here are falling faster than anywhere. A while back (September 2006, to be more precise) the Seattle Times published a 22-year âanalysisâ of King County home prices, which essentially came to the conclusion that Seattle would be immune to the home price drops that were beginning to occur elsewhere around the country.Their graph of local home prices going back to 1984 was interesting, but I was â¦ That demand, coupled with the biggest inventory crunch since 2017, is generating bidding wars and all-cash offers across the Puget Sound region. The analysis includes three scenarios that differ in pace of recovery: an optimistic, medium and pessimistic outlook. Elsewhere, home prices have continued rising year-over-year, even as mass layoffs hit levels not seen since the Great Depression. You must be logged in to leave a comment. Home values fell as much as 50% in some markets a decade ago, but market dynamics are far different now, and the supply-demand imbalance favors stronger prices. In the remaining market, another Zillow analysis suggests that new listing are down overall, with listings of the most-expensive homes taking the biggest hit. But â¦ "Determining the kind of homes being listed this season can offer some early clues as to the resilience of the market and any potential future impacts on home prices as the enduring impacts of the coronavirus crisis unfold," wrote data analyst Treh Manhertz. Virtual showings never totally caught on, but brokers and home shoppers have gotten used to scheduling tours and inspections using the ShowingTime mobile app. "Housing-specific data have also validated our assumption of a ~50% decline in sales, while also beginning to offer some clues as to what the next phase of this crisis is going to look like. If home prices in your area have leveled or started to dip in recent months, thereâs a good chance that downturn will continue as the economic turmoil drags on. At the peak of the most recent boom in mid-2018, the average value of a home in Seattle was $750,000. At one point in April, nearly 40% fewer home shoppers were inking deals than in 2019.