Tuesday, February 15, 2011

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.

Monday, February 14, 2011

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.

Sunday, February 06, 2011

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.


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.


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.