We start with the realization that 2011 home values in Seattle are the same as they were in 2005 with a medium sold price of $375,000. So the sobering reality is that for anyone who has bought a home since 2005, it's current market value is likely less than the purchase price. (OK, for those that have invested significantly in remodeling or upgrades this may not be true)
To make the selling process even more challenging, fewer than 21,000 homes/condos sold in King County in 2010 compared with 42,000 in 2005. In West Seattle, there are currently 413 homes for sale and the average Days on Market is 101.
That's where we begin 2011. I'll check in regularly to provide updates as the year progresses. Here's a link to the Seattle Times article where I found some of my data:
http://seattletimes.nwsource.com/html/businesstechnology/2014002115_homesales22.html
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