Homes Sold in Central Seattle WA

The median home price in central Seattle Washington was $551,200 in November which is up slightly from October.

One may wonder what happened to the typical slow down this time of the year brings. It is hard to know for sure but it may have something to do with the Tax Credit Extension. A home priced for $550,000 is not the typical purchase for a First-Time-Home-Buyer. However, the new extension also give a credit to Home-Buyers who have lived in their home for the last 5 years in the amount of $6,500. This may be stimulating homes priced under $800,000 in a way we haven't seen in the past.

The number of homes sold in central Seattle continued to rise in November. However, pending homes is on the decline. I expect fewer homes to sell in December and likely bottom out in January.

Homes Sold In North Seattle WA

The median priced home in north Seattle, Washington was $415,509 in November. Looking at the line graph below home values appear to be moving up since October. Unfortunately it is misleading. The reason for this increase is due to a home that sold for $11,500,000 that is close to 10,000 square feet in size in Laurelhurst! I believe home values would have continued to slide down since October if that home hadn't sold.
The number of homes sold in north Seattle moved down to 236 and pending homes dropped to 119. This is typical for this time of year since many home Buyers have put their search on hold during the holidays.

Home values and volumes should continue to slide through January 2010.

Ballard Art Walk

I'll be featuring works by painter Kate Tesch at the Ballard Art Walk in December.

The iridescent, glimmering drips forming layers of color are the inspiration for this series. To create a sense of wonder, a dream like abstraction of the world through my window.

Stop by Saturday December 12th, 2009 from 6 to 9 PM at the FORUM CENTER, which is located at 1718 NW 56th Street, Seattle, WA 98107.

For more information go to: http://www.seattlehomekey.com/artwalk.html

Homes Sold in Central Seattle

The median home price in central Seattle Washington was $531,200 in October which continues a slight decline from its high in July. The number of pending and sold homes in central Seattle plateaued in September and October with 119 homes sold each month.

Values and volumes should continue to decline through January 2010 unless something unexpected happens due to the Tax Credit Extension.

Homes Sold in North Seattle WA

The median home price in north Seattle Washington started its seasonal dip in October at $410,000. The number of pending and sold homes in north Seattle peaked for the year in June with 317 homes sold. 280 sold in October which is the largest volume for that month since before 2006.

Values and volumes should continue to slide through January unless the Tax Credit Extension causes an unexpected increase.

Tax Credit Extended

Below is the content from an email I received from the Washington REALTOR Association about the Tax Credit Extension. I hope you find this information helpful.
-Andrew


Great News For Washington Homebuyers!

President Obama signed the Worker, Homeownership, and Business Assistance Act of 2009 into law today. The legislation greatly expands the First Time Homebuyer Tax Credit by making more first time homebuyers eligible for the credit and now includes homebuyers that are not first time homebuyers. This new legislation is a huge victory for you, the Washington REALTORS and the National Association of REALTORS.

First Time Homebuyers
The current law is extended until April 30, 2010. Buyers have until that date to have a signed purchase agreement. There is an additional 60 day grace period to complete the financing. More first time homebuyers are eligible because the new law raises the annual income limits from $75,000 to $125,000 for singles and from $150,000 to $225,000 for married couples.

Current Home Owners
Over 60 percent of current home owners will be eligible for a tax credit of up to $6,500 if they purchase a home by April 30, 2010. These homebuyers must have lived in their home for five consecutive years over the previous eight years to qualify. Qualified homebuyers can get the credit if they purchase a home for $800,000 or less as their primary residence between November 7, 2009 and April 30, 2010. The income limits are the same as the First Time Homebuyer listed above.

Please see the links below for details regarding the new legislation:
Frequently asked questions regarding the new Homebuyer Tax Credit.
A chart comparing the original Tax Credit with the new, expanded Tax Credit.
Press Release (11/06/09) Washington REALTORS & the new Tax Credit.
REALTORS helped State Leaders Express Support

Ballard Art Walk

I'll be featuring works by photographer Ellie Sprague at the Ballard Art Walk in November.

Sprague's work features horses. From wild horse in the reserves of Idaho and Montana to small town rodeos in the Northwest. She captured moments of quick action, quiet solitude and the emotional interaction.

Stop by Saturday November 14th, 2009 from 6 to 9 PM at the FORUM CENTER, which is located at 1718 NW 56th Street, Seattle, WA 98107.

For more information go to: http://www.seattlehomekey.com/artwalk.html

Homes Sold in Central Seattle WA

The median home price in central Seattle Washington was $549,750 in September which continues to decline from its high in July. Values should hold steady for October but will then likely begin a normal decline as winter approaches.

The number of pending and sold homes in central Seattle continues to rise so far this year. 119 sold in September and it looks like September or October with be the peak.

Homes Sold In North Seattle WA

The median home price in north Seattle Washington continued to rise in September to a high for the year of $432,750. Values may hold steady for October but will then will likely begin a normal decline as winter approaches.
The number of pending and sold homes in north Seattle peaked for the year in June with 317 homes selling. 248 sold in September and that number should continue to decrease through January 2010.