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Home prices up 10% in Seattle in the past year

realestate310x177SEATTLE – There’s some good news on the horizon for Seattle’s housing market.

Seattle-based Zillow released its first quarter market report on Tuesday, saying the median home value rose 10.3% in the past year – to an average of $316,000 per home.

The report also predicts that home prices will rise another 6.1% over the next year.

Zillow says the Seattle metro real estate market hit bottom in early 2012 and has been slowly rebounding ever since.

The report also noted that rental rates are also up 7% from a year ago – to $1750.

Nationwide, home values climbed 5.7% overall to an average of $169,8000 per home.

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