Wednesday, August 05, 2009

Homes Sold in Central Seattle WA

Sales Value Line-Chart
The median home price in central Seattle Washington inched up to $548,000 in July. From December 2008 through March 2009 median values slid from a high of $647,500 to a low of $480,000. It appears April was the turning point and values should continue to rise through the summer.

Sales Volume Line-Chart
54 homes sold in July in central Seattle. It appears June will likely be the peak for the year with 56 homes sold, in which more homes sold than any month since August of 2007.

The gap between homes that have closed and homes that are pending continues to be larger than normal. It's likely due to stricter rules for getting a loan and may also be due to the number of short sales on the market. According to the NWMLS 12% of the homes sold in King County are short sales which tend to take longer to close.

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