19 November 2012

Seattle Real Estate Market Update ~ Think You're Underwater? Think Again.

Are current market conditions buoyant enough to lift the value of underwater homes?  Happily for some, the answer is yes.  While we probably can't expect robust growth for some time, 2012 is the year when we will probably see real appreciation for the first time since the downturn in 2007.  Given a little equity, some homeowners may see an opportunity to list their home and take advantage of ridiculous interest rates and pricing much lowered from the peak.  If you think 2013 could be the year to consider entering the market, please don't hesitate to call and I can help you understand the value of your home.

The charts below show the very restricted inventory currently on the market, which is one big reason why we are seeing prices rise steadily.  It's basic supply and demand principles at work, and it's fascinating to watch how it plays out everyday in the market.
Information and statistics compiled and reported by the Northwest Multiple Listing Service.

Seattle Residential Homes - Months of Inventory
 Seattle Residential Homes - Median Price
 Seattle Condominiums - Months of Inventory
Seattle Condominiums - Median Price

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