The median home values for north Seattle moved up in March with a median of $382,738. While the average moved down to $440,205. February will likely be the bottom for the median value in 2011.
Showing posts with label Home Sales Volumes in North Seattle WA. Show all posts
Showing posts with label Home Sales Volumes in North Seattle WA. Show all posts
Friday, April 15, 2011
North Seattle Home Values
In north Seattle the number of pending sales is skyrocketing and closed home sales are leveling off with 235 homes pending and 127 homes closed. Buyers appear to moving into the market to take advantage of low prices and spring weather.
The median home values for north Seattle moved up in March with a median of $382,738. While the average moved down to $440,205. February will likely be the bottom for the median value in 2011.
The median home values for north Seattle moved up in March with a median of $382,738. While the average moved down to $440,205. February will likely be the bottom for the median value in 2011.
Thursday, April 09, 2009
Homes Sold In North Seattle WA
Since January of this year the median price of homes sold in North Seattle has hovered around $400,000. In March is dropped just below to $394,250.
Similar to central Seattle tightened restrictions for Jumbo Loans is one cause that is not helping median home prices. The interest rate for a Jumbo is typically a percentage point higher than a conforming loan and the down payment is typically 20% or more. This effects sales of homes priced from approximately $530,000 and above.
The volume of homes priced from $600,000 to $1,000,000 has slowed to a crawl, which is pushing down the median value as a whole.
Sales Value Line-Chart
The good news is that the volume of homes sold is on the rise. 77 homes sold in March and 138 are pending. We are entering the busiest time of the year so the number of transactions should continue to rise.
Sales Volume Line-Chart
I expect March to be the bottom for the year for the median priced home value and January to be the bottom for the number of homes sold in one month.
www.seattlehomekey.com
Similar to central Seattle tightened restrictions for Jumbo Loans is one cause that is not helping median home prices. The interest rate for a Jumbo is typically a percentage point higher than a conforming loan and the down payment is typically 20% or more. This effects sales of homes priced from approximately $530,000 and above.
The volume of homes priced from $600,000 to $1,000,000 has slowed to a crawl, which is pushing down the median value as a whole.
Sales Value Line-Chart
The good news is that the volume of homes sold is on the rise. 77 homes sold in March and 138 are pending. We are entering the busiest time of the year so the number of transactions should continue to rise.
Sales Volume Line-Chart
I expect March to be the bottom for the year for the median priced home value and January to be the bottom for the number of homes sold in one month.
www.seattlehomekey.com
Thursday, February 12, 2009
Homes Sold in North Seattle WA
Similarly to central Seattle, the median priced home value in north Seattle Washington dropped substantually in January. North Seattle moved from $472,094 in December to $392,750 in January. Again these are two numbers that are shocking to see next to each other.
The number of homes selling for over $1 million has slowed to a crawl, which is pushing down the average and median value. Until the upper end of the market rebounds I expect the median priced home value to hover just below $400,000. Sales Value Line-Chart
Since July of 2008 the sales volume has dropped dramatically. There were just under 140 homes sold in July, and in January there were just over 55 homes sold. In the coming months I expect that number to improve because January is typically the slowest month of the year. Sales Volume Line-Chart
An interesting trend to notice is the fact that the pending sales line on the line-chart typically leads the sold homes line. As the number of pending homes increases or decreases the sold homes increase or decreased the following month. However, since August it has been reversed. There has been a significant number of homes that are pending that are not closing which is likely due to financing.
Buyers keep in mind 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.
The number of homes selling for over $1 million has slowed to a crawl, which is pushing down the average and median value. Until the upper end of the market rebounds I expect the median priced home value to hover just below $400,000. Sales Value Line-Chart
Since July of 2008 the sales volume has dropped dramatically. There were just under 140 homes sold in July, and in January there were just over 55 homes sold. In the coming months I expect that number to improve because January is typically the slowest month of the year. Sales Volume Line-Chart
An interesting trend to notice is the fact that the pending sales line on the line-chart typically leads the sold homes line. As the number of pending homes increases or decreases the sold homes increase or decreased the following month. However, since August it has been reversed. There has been a significant number of homes that are pending that are not closing which is likely due to financing.
Buyers keep in mind 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.
Friday, November 07, 2008
Home Sales in North Seattle Washington
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
Sales Value
Sales Volume
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
Sales Value
Sales Volume
Wednesday, October 08, 2008
Home Sales in North Seattle WA for September 2008
In September home values in north Seattle Washington continue to move down. The median priced home sold for $435,125. Sales volume continues to decrease as well with only 112 total homes sold.
With the current economic and credit crisis the world is dealing with, it is no surprise that the real estate market is moving downward. I expect values to continue to slip and volumes to remain relatively flat in October in north Seattle.
Sales Value
Sales Volume
With the current economic and credit crisis the world is dealing with, it is no surprise that the real estate market is moving downward. I expect values to continue to slip and volumes to remain relatively flat in October in north Seattle.
Sales Value
Sales Volume
Wednesday, September 10, 2008
Home Sales Value and Volume in N. Seattle WA in August 2008
In August home values in north Seattle Washington matched June 2007's peak. The median priced home sold for $515,000. Sales volume slid down 15% from July with a total of 120 homes sold.
In the past the home sales volume and the median home sales value in north Seattle has typically peaked in June. In 2008 the peak for sales volume was likely in July and the median home value may not peak until November. The delays are caused by the current troubled climate in the lending industry and its effect on the real estate market.
View Graphs
In the past the home sales volume and the median home sales value in north Seattle has typically peaked in June. In 2008 the peak for sales volume was likely in July and the median home value may not peak until November. The delays are caused by the current troubled climate in the lending industry and its effect on the real estate market.
View Graphs
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