Seattle and Bellevue grab a lot of the high-cost housing headlines, but home prices are getting more expensive all around Puget Sound.
Updated numbers from Zillow show median home prices are up about 9 percent the past year in Olympia and about 13 percent in Tacoma and Federal Way.
Home prices are still much cheaper in these cities than Seattle and Bellevue, but it’s continuing to become more expensive.
“The market’s hot South King County, Federal Way, Auburn, Puyallup,” said Patrick Buckley, a broker with Coldwell Banker Bain. “You’re finding the same competitiveness because this is where people with two median incomes can afford.”
Lynn and Jamey Pember hope to soon be new homeowners of a 3-bedroom, 1-bath Federal Way home. On Saturday they were going through the inspection process.
They said the last month has been much more competitive than they expected.
“We couldn’t even go look at some because they would be off the market,” Lynn said.
The house they were inspecting was only on the market five days.