What's new with The Real Estate Seattle Market?
Some areas in Seattle are experiencing sustained growth and North Seattle has continued a strong year of sales through May. #In May sales of single family homes were up 5% for the first half of 2010, and median prcies of home sales continue to rise in North Seattle. Homes For Sale Seattle
and across the King county area are seeing sustained recovery and even growth in many parts of the county.
With Real Estate Seattle
there were 26 houses sold in Green Lake in May, a solid month after a big April in which we had 32 new houses sold. #Condos make up a small portion of the sales in Green Lake, with an additional 6 condos sold in April and 4 in May.
#Year-to-date pricing for single family homes in Seattle's Green Lake are up considerably over last year or so. The average price at this point in 2009 was $390,000. This year we're at a median of $429,000, a price increase of 10%. Price increases and sustained Real Estate Seattle growth are welcome in todays housing market.
The average home sales sold price is actually quite a bit lower than the median value of all homes in the north Seattle neighborhoods, but a large number of lower-priced homes have been selling in the past couple of years. A large portion of the homes in Green Lake are $600,000 to over $1 million, but these home sales have been slowed significantly since late 2007 due to lack of financing, instability and liquidity available for many home owners. If I had to guess, I'd say the median value of all homes in Seattle Real Estate
Green Lake, on the market or not, would be over $429,000, maybe closer to $450,000 or even $475,000. Overall the Real Estate Seattle market seems to be stabilizing, showing signs of not only recovery but potential growth. This is great news for home owners, potential home owners and for the overall economy. Real Estate Seattle is really the foundation of the Seattle economy.
Those who purchased Real Estate Seattle homes with cash made up 17.5 percent of all buyers in March and paid a median $270,000. That compares with 18.5 percent of homes bought from cash buyers in February and 16.7 percent in March 2009. Specifically, these were transactions where there was no indication of a purchase loan recorded at the time of sale. Some of these "cash" buyers could have used alternative financing arrangements outside of a typical purchase mortgage, and in some cases these buyers might be taking out mortgages after their purchases. All-cash deals have become popular in many Western markets where prices have dropped sharply, luring investor buyers who don't always qualify for traditional mortgages. Whether you're a first time home buyer, an investor or an empty nester, now may be the perfect time to look at purchasing your dream home.
