State of the Market in Queen Anne and Magnolia - January 2012

The real estate market in Seattle, Washington neighborhoods of Queen Anne and Magnolia appears to be shifting from a Buyer's Market to a Balanced Market. The supply of homes is low and the demand is rising. When comparing January of 2007 to January of 2012 the median home price is up 1%. With home prices lower and mortgage interest rates around 4%, in King County the monthly mortgage payment is less expensive than the monthly rent for the average home.