My last post was pretty somber. While I'll continue on that note, looks I'll end with some positive comments.
In January 2011 the King County single family home median price sank even lower. At $356,000, that's back to the April 2005 level - almost a 6 year low. 34.3% of King County homes are worth less than their mortgage, which is higher than the 27% national average.
West Seattle? Our average sold price was down to $337,000 last month. Ok, on a slightly positive note, we have 419 active listings today, which has stayed fairly consistent over the past few weeks. Pending sales are up to 163 today...which I find encouraging.
Enough stats for now, where are we really? The recent sentiments among local agents is that activity is really picking up. I feel the same, as many of my clients are considering making purchases this spring and have begun looking. Stock markets have been strong lately...unemployment has decreased slightly...home prices have come down over 25% since 2005...it's possible we're turning the corner! Though the experts do predict any rebound to be slow & gradual.
Data provided by the NWMLS, Trendgraphix and the following Seattle Times articles:
http://seattletimes.nwsource.com/html/businesstechnology/2014166638_zillow09.html
http://seattletimes.nwsource.com/html/businesstechnology/2014119664_homesales04.html
Wednesday, February 9, 2011
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