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Windermere Real Estate

Market Review

Seattle Metro A special report on residential real estate sales in King County 4th Q and 2011 in Review

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Windermere Real Estate/Wall St., Inc.


Fourth Quarter Oct / Nov / Dec 2011 "Healthy marketplaces" Emerging With Shrinking Inventory, Favorable Financing NWMLS KIRKLAND, WA. (Jan. 4, 2012)

Home sales finished the year much stronger than they started, with pending sales for the fourth quarter outgaining the first quarter by more than 3,000 transactions for a 21% increase, according to new figures from NWMLS. OB Jacobi, president of Windermere Real Estate, believes the market has undergone a shift. "Where we've been during the past year is a place of transition. It has been a slow recovery, but the housing market has finally turned a corner, albeit a soft one with some bumps along the way," he commented. Read more on our blog: www.WallStreet.withwre.com Area

SEATTLE CORE Downtown, Belltown IN-CITY Queen Anne, Magnolia

NW SEATTLE Ballard, GreenLake, Fremont, Wallingford NE SEATTLE View Ridge, Maple Leaf, Northgate CENTRAL SEATTLE Capitol Hill, Central District, Madison Park SE SEATTLE Beacon Hill, Mt Baker, Columbia City, Seward Park, Rainier WEST SEATTLE

Number of Homes Sold 2011

Average Sold Price

Median Sold Price

Average Size (Sq Footage)

Days on market DOM

Houses

Condos

Houses

Condos

Houses

Condos

Houses

Condos

Houses

Condos

na

451

na

$505,256

Na

$390,000

Na

1045

na

79

466

279

$632,358

$327,666

$530,000

$250,000

2263

1028

65

81

1353

256

$430,537

$240,918

$398,000

$219,675

1862

888

42

72

942

136

$484,577

$192,390

$410,000

$187,950

2063

1006

47

77

690

405

$688,263

$311,129

$509,000

$249,900

2242

901

65

91

732

48

$319,071

$170,479

$274,750

$167,950

1822

958

62

64

1108

138

$347,178

$305,037

$297,949

$240,000

1769

1149

63

126

All data compiled from NW Multiple Listing Service, this information is deemed reliable, but is not a guarantee nor is it guaranteed, and should be verified to your satisfaction.


Pricing Trends December 2011 Metro Seattle Real Estate Market Update ‐ Residential   

Windermere tracks key performance indicators to determine the current state of the market and to  anticipate trends within Metro Seattle: from West Seattle to Lake Washington and north to Shoreline  & Kenmore. We trust that this data combined with our expertise will help you make sound decisions.   PRICE TRENDS    Prices  for  closed  sales  of  single  family  homes  increased  in  November  2011  compared  to  the  previous  month—an  on‐going  opportunity  for  buyers.  Low  priced  distressed  homes  continue  to  push prices down. While our brokers report multiple  offers  in  many  high‐demand  neighborhoods,  this  isn’t  translating  into  pressure  on  higher  prices,  at  least  not  yet.  In  fact,  the  average  selling  price  in  November  2011  was  $441,000,  compared  to  $480,000 in November 2010.  

MARKET ACTIVITY     

Many sellers  assume  that  it  is  best  to  wait  until  spring  to  list  property  for  sale.  But  standing  inventory of residential homes in the fourth quarter  of 2011 is 32.8% lower than in the fourth quarter of  2010.   Depending  on  your  neighborhood  and  price  level,  selling  a  single  family  home  in  the  winter  of  2011  may  be  more  profitable  than  waiting.  Speak  with  your broker for more details. 

FINANCIAL MARKET TRENDS   

Interest rates  remain  historically  low  and  future  changes are difficult to predict. However, when the  economy  improves,  interest  rates  will  likely  increase.  Buyers  tempted  to  wait—hoping  for  real  estate  prices  to  drop  further—should  bear  in  mind  that  small  interest  rate  increases  often  offset  large  declines in price. For example, if interest rates go up  by  0.25%,  monthly  payments  for  a  home  with  a  $300,000  loan  amount  will  increase  even  if  the  value of the property declines by 2.5%. 

Windermere.com


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Windermere Real Estate — Queen Anne Office 214 W. McGraw Street, Seattle 98119 206.283.8080 www.Windermere.com

Q4 2011 Seattle Metro Report by Queen Anne  

Q4 2011 Seattle Metro Housing Report as presented by Windermere Queen Anne

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