King County Home Values

Home prices in King County Washington continued to drop in February. The median and average home price was $334,000 and $413,869. This is likely the low point for 2011.

1,003 homes sold in King County which was slightly below January, while 1,962 homes were pending in February. The number of pending homes is climbing quickly, which is a sign that the market is heating up for the spring.

RE/MAX Internation Convention

I'm at the RE/MAX International Convention in Los Vegas this week. I spent the day getting tips to help improve my business. Here are a few ideas that jumped out to me.

"People don't care how much you know until they know how much you care." -Joe Theismann

SlyDial - Phone calls go automatically to voicemail. www.SlyDial.com

QR Codes - An easy way to link to a web address using a smart phone

Photaf - App that always one to create a panoramic image using a Droid.

VidTrim - App that always one to edit videos on a smart phone

Queen Anne and Magnolia Home Values

The median priced home in Queen Anne and Magnolia neighborhood of Seattle in January was $475,000 and the average was $608,075. The median value is the lowest since 2005.

33 homes sold and 48 homes were pending in January.

Capital Hill and Madison Park Home Values

The median price of homes in Capital Hill and Madison Park area of Seattle was $500,000 in January and the average was $663,778.

63 homes sold in January and 56 homes are pending in January.

Northeast Seattle Home Values

The median value of homes in northeast Seattle slipped down to $399,475 in January and the average was $528,857.

44 homes sold and 84 were pending in January.

Northwest Seattle Home Values

In January the median home price in northwest Seattle slid down to $400,000 and the average moved down to $424,982. It is typical for home values in January to move down.

83 homes sold and 117 were pending to sell. As spring moves closer the number of homes sold should continue to rise.

King County Home Values

With a value of $356,000, the median home in King County slid down to a two year low in January 2011. The average value was $348,943.

1017 homes sold in January with 1649 pending.

New Post

It has been a long time since I last posted anything on my blog. With the new year I plan to get back to blogging. Stay tuned for information about home values, new homes on the market, and homes that have recently sold.

Zillow.com

From time to time I’m asked my opinion of Zillow.com’s “Zestimate”. Personally I believe Zillow to be a good tool for one to get a general idea of what is happening in the real estate market.

However, I caution homeowners not to put a lot of faith in the Zestimate tool for an individual home. From time to time after I’ve done a comparative market analysis (CMA) for one of my clients, I’ll compare it with Zillow and have found it sometimes high and sometimes low. I feel the accuracy on an individual property is questionable.

Zillow discloses the accuracy of its Zestimate. A link can be found at the bottom of the home page titled “Zestimate Values & Accuracy”. For example, according to their statistics in Seattle, 75% of the time they are within 20% of a home’s value, 51% of the time they are within 10% of a home’s value, and 28% of the time they are within 5% of a home’s value. For this they give themselves a 4 star rating which is their highest rating.

http://www.zillow.com/howto/DataCoverageZestimateAccuracy.htm

I am confident when I say that a Realtor who has knowledge of a neighborhood will provide a much more accurate value of a home.

Just Sold in Upper Rainier Beach

Just Sold for $377,599!!!

6004 S Norfolk St, Seattle 98118

Super clean & crisp brick home on corner lot in excelnt neighbrhd. Fresh designer colors, light-filled rms w/ big windows & multiple skylites, slate & hardwds main flr, flex liv/din room spaces open to entertainment-sized deck w/ peek-lake & territorial views. Sunny kitch w/ glass brick accents & skylight. Baths feature jetted tub, skylights & new flooring - private bath off Master bedroom. Finishd basmt w/new carpet, separate entry. Fenced yard, drive-thru carport, paved alley. Just move in!

Amy Lanset at the Ballard Art Walk

I'll be featuring works by artist Amy Lanset at the Ballard Art Walk in July.

Stop by Saturday , July 10th 2010 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 $511,250 in April. Upper end home buyers were still on the fence while first time home buyers were out in great numbers. Since the neighborhoods of Central Seattle tend to have more upper end homes the median price continues to get hit hard.
The number of homes sold in Central Seattle continues to climb with 118 closings in April. Similare to north Seattle the number of pending continues to skyrocket with 197 homes pending. Activity should continue to increase for the next couple months.

Thanks for reading!

-Andrew

www.SeattleHomeKey.com

Homes Sold In North Seattle WA

The median price of homes sold in North Seattle, Washington was $441,238 in April. In a typical year home values tend to peak in May or June. I expect they will this year as well, but I do wonder if many buyers purchased homes early to take advantage of the first time home buyer tax credit that recently expired.

"Move-up" home buyers continue to do well in this market by selling their home to a first time home buyer and purchasing in a higher price range that is likely not as strong.





The number of homes sold in North Seattle in April was just off March with 231 to 237 homes selling. The number of pending homes continues to skyrocket with 408 homes pending in April. The number of closings should continue to increase for the next couple months.

Thanks for reading!

-Andrew

www.SeattleHomeKey.com

Ashley Hoyle at the Ballard Art Walk

I'll be featuring works by photographer Ashley Hoyle at the Ballard Art Walk in May.

Stop by Saturday , May 8th 2010 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

Home values have shot down in Central Seattle Washington! The median home price was $606,500 in February but has decreased to $498,750 in March.

I suspected the increase in home values in February was a spike but I did not expect it to be followed by a decrease of $100,000. The upper end home buyers are still on the fence while first time home buyers are out in great numbers. For that reason the median price of homes in central Seattle is getting hit hard.

The number of homes sold in Central Seattle has skyrocketed from 64 in February to 113 in March.

Similar to North Seattle the number of pending homes continues to skyrocket with 172 homes pending in March. The number of closings should continue to increase for the next couple months.

Thanks for reading!

-Andrew

www.SeattleHomeKey.com

Homes Sold in North Seattle WA

The median price of homes sold in North Seattle, Washington was $402,625 in March. This number is down from last month which is surprising considering the seasonal slowdown around the holidays is behind us.

The market continues to compact. The value of upper end homes has been decreasing while the value of entry level homes has held steady or increased. The first time home buyer tax credit is helping homes priced under $500,000. In fact it is not uncommon to see multiple offers for homes that are priced right.

Home owners that are considering moving up will likely do well in this market by selling their home to a first time home buyer and purchasing in a price range that is not as strong.

The number of homes sold in North Seattle jumped up from February to March with 148 to 237 homes selling.

The number of pending homes continues to skyrocket with 358 homes pending in March. The number of closings should continue to increase for the next couple months.

Thanks for reading!

-Andrew

www.SeattleHomeKey.com

David Harrison at the Ballard Art Walk

I'll be featuring works by painter David Harrison at the Ballard Art Walk in April.

Stop by Saturday , April 10th 2010 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

Home values have shot up in Central Seattle Washington! The median home price was $606,500 in February an increase of $100,000 since December.

There appears to be a renewed interest in Central Seattle homes with the sale of more mid to upper end homes. It is a welcome change for home owners who have seen the value of their home decline substantially.

This increase may be represented by just a spike in the graph below because next month the median price home will likely be under $550,000.

The number of homes sold in Central Seattle continued to drop from 113 in December, to 89 in January, to 64 in February.

Similar to North Seattle the number of pending homes is skyrocketing in Central Seattle. In December there were 89 homes pending to sell, in January there were 109, and in February there were 132. Strangely, these pending numbers aren't transferring to more homes selling. This may be due to the fact that it's taking longer for deals to close, or there is a body of Buyers who are having difficulty getting a loan.

Thanks for reading!

-Andrew

www.SeattleHomeKey.com

Lisa Snow Lady at the Ballard Art Walk

I'll be featuring works by painter Lisa Snow Lady at the Ballard Art Walk in March.

Stop by Saturday March 13th, 2010 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 North Seattle, WA

The median priced of homes sold in North Seattle, Washington was $418,275 in February. With the seasonal slowdown around the holidays behind us, home values are gradually increasing.


Over the last 12 months the market has been compacting. The value of mid and upper end homes has been decreasing while the value of entry level homes has held steady or increased. The first time home buyer tax credit is helping homes priced under $500,000. In fact it is not uncommon to see multiple offers for homes that are priced right.


Home owners that are considering moving up will likely do well in this market by selling their home to a first time home buyer and purchasing in a price range that is not as strong.
The number of homes sold in North Seattle held steady from January to February with a 147 and 148 homes selling.


The number of pending homes is skyrocketing! It is strange that it isn't transferring to more homes selling. Either it is taking longer for deals to close, or there is a body of Buyers who are having difficulty getting a loan.

Thanks for reading!

-Andrew

www.SeattleHomeKey.com