Thursday, August 07, 2008

Home Values in North and Central Seattle

Home values in north Seattle dropped from their peak in October 2007 with the median priced home selling for $511,000. By January the median was down to $444,000. Between January and May it worked its way back up to $512,475 and since then has dropped down to $485,938. Sales volume likely peaked in July. The number of pending sales is heading downward. In August I expect values and volumes to be down slightly from July.

October of last year was also the peak for central Seattle. The median priced home at that time was $671,000. Since then home prices have slowly declined to $585,000 in April. In June it was up to $611.750, but July dipped to $584,296. Sales volume looks to be slowly declining. The rest of the year may be bumpy.

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