This morning, the June Standard & Poors / Case-Shiller report shows that home values in the Seattle area are up 8.5% from February and have hit an eighteen-month high.
The Index shows Seattle home values jumped 1.8% from May. The average sales price of a Seattle (proper) single-family home in June was $454,700; $335,000 for condos.
Nationwide, home values are up 4.1% from February. The press release accompanying the reports states, “We are aware that we are in the middle of a seasonal buying period, but the combined positive news coming from both monthly and annual rates of change in home prices bode well for the housing market.”