State of the Market in Northwest Seattle - January 2012

The real estate market in Northwest Seattle appears to be shifting from a Buyer's Market to a Seller's Market. The supply of homes is low and the demand is high. However, when comparing January of 2007 to January of 2012 the median home price is down 19%. With home prices lower and mortgage interest rates around 4%, in King County the monthly mortgage payment is less expensive than the monthly rent for the average home