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Is Seattle Becoming the New San Francisco?

The number of homes worth at least $1 million has tripled in the last four years across the Seattle metro area.

In fact the median price for a single-family home sold in Seattle last month reached $637,250, which is up from $425,000 four years prior, according to the Northwest Multiple Listing Service.

This year, Seattle jumped from number 20 to 14th nationally, with 7% of homes over $1M.

According to Trulia’s chief economist, Ralph McLaughlin, we don’t have to worry that we will become the next San Francisco. If only because they continue to outpace us.

Read more details in the Seattle Times article.

It seems more important than ever to have a plan and a solid team of professionals if you want to be competitive in this market.