Home prices in the Seattle area seem to be picking up as inventory drops and home buyers begin to build confidence. The number of multiple-offer situations and "bidding wars" has increased significantly in recent months.
The Seattle Times reported seeing a 9 percent increase home prices since February of this year. In the city of Seattle, prices are up 3 percent from one year ago. Neighborhoods close to Seattle and Bellevue continue to report stronger home sales, while those in outlying areas have yet to pick up.
Total home sales are also on the rise, with 8 percent increase in total house sales across King County. Condos saw an even stronger gain, with a 22 percent increase over March of 2010.
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