I'm sure you've heard that King County home prices are on the rise but how much, you say? This chart, courtesy of Seattle Times, shows exactly how high.
In short, buyers have become more aggressive. Fearing higher interest rates, they are offering high prices with less terms in the face of a record low inventory of homes. For those buyers who come to us saying, "I don't want to get into a bidding war." In this market, that's like saying, "I want to play basketball and not bounce the ball." Good luck with that!
The median price for single-family homes sold in King County has recovered the ground lost since the last peak in 2007. Source: Northwest Multiple Listing Service (Garland Potts / The Seattle Times)