After a busy summer home values in north Seattle Washington continue to move down. The median priced home sold for $424,500. Down from its peak in May of $512,475. Sales volume continues to decrease as well with only 98 total homes sold.
Tightened standards for obtaining financing plus the negative news on the economy is the likely cause. I expect values and volumes to continue to slip in November.
There are many great buying opportunities with this market. Today Sellers are motivated and interest rates are low. We may be looking back at this winter as one of the best Buyer's markets we've seen for quite a while.
Take a look at this interesting article titled "Real Estate Markets Most Likely to Rebound" Forbes.com