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    The Seattle Real Estate Market

    From about 2004 through 2007 home inventories in the Seattle real estate market were low, always favoring the seller.  At the end of 2007 that all changed and homes just didn’t sell.  Prices in the core neighborhoods of Seattle dropped about 25% to 30% from 2008 through 2010.  Then from the beginning of 2011 the market has flattened out and prices have remained flat, not going up or down. 

    Starting in January of 2012, home inventories have gone down while there are more homebuyers in the market. Mortgage rates are at historic lows.  About 40% of all homebuyers this year have been investors, which has really created an inventory shortage in and around Seattle. 

    We are seeing multiple offers again on may homes today and the good homes that are priced correctly are selling in a just a few days compared to 6 months on the market about a year ago.  This may truly be one of the best times to buy Seattle Real Estate! 

    David’s Monthly Market Insights

    Read below as I provide frequent updates about the state of the Seattle real estate market.

    Friday
    Apr052013

    Seattle Real Estate Market Snapshot 2011-2012

    Over the past few years, the Seattle real estate market has had quite a few ups and downs. If you are considering a real estate transaction in 2013, it's important to understand the market conditions. In this market snapshot, I compare some valuable statistics such as the number of homes sold, average list prices and sold prices, as well as days on market for the core Seattle MLS areas: 

    • Area 390: Capitol Hill, Central District, Eastlake, Leschi
    • Area 700: Queen Anne, Magnolia
    • Area 705: Ballard, Green Lake, Wallingford, Blue Ridge, Fremont
    • Area 710: Laurelhurst, Bryant, Maple Leaf, Ravenna, Sand Point

     Download your copy of the Seattle market snapshot here.