



A GIANT in Seattle real estate who enjoys playing the saxophone, sailing, art, travel, and the outdoors.
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.
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.
-Andrew
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
Thanks for reading!
-Andrew
The number of homes sold in north Seattle moved down to 206 and pending homes dropped to 163. This is typical for this time of year since many home Buyers have put their search on hold during the holidays.
The number of homes sold in central Seattle dropped to 113 in December. Pending homes dropped dramatically. Home buyer put there search on hold for the holiday season. I expect fewer homes to sell in December, but more homes to go pending which signals the begin of a new cycle for 2010.