The Seattle Times has posted its annual update of home values in the Seattle area. This is a great resource for those who are interested in tracking how different neighborhoods fair against each other. (see updated link from Case-Shiller below)
The 2004 figures show a steady increase in values throughout the Puget Sound regain with some of the biggest increases in outlying areas. Experts still see Seattle as one of the most under-priced cities on the west coast.