Thursday, June 12, 2008

Home Values in Central and North Seattle

North Seattle has rebounded from the low in January. Home values began to drop from their peak in October 2007 with the median priced home selling for $511,000. By January the median was down to $444,000. In May the value shot back up to $512,000 and volumes rose as well. I expect home values to dip but volumes in north Seattle to plateau in June.

Central Seattle is not fairing as well. October of last year was also the peak. The median priced home at that time was $671,000. Since then home prices have slowly declined to $585,000 in April. May shows a slight increase to $588,000. In June I expect home values and volumes in central Seattle to continue to see a slight improvement.

Below are graphs that track home values and sales volumes of single family homes in Central and North Seattle from January 2006 to present.

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