Low real estate levels on Â Queen Anne Hill continues to going into 2012
The popular Queen Anne community (zip codes 98109 East Queen Anne, 98119 West Queen Anne) has seen home prices to continue the downward trend since the last update 3 weeks ago. The downward trend began in August of 2011 for the East Queen Anne neighborhood and mid-October for west Queen Anne.
The median selling price for East Queen Anne has fallen from the years high $850k in August 2011 to just under $687k from $705k on 1/19/2012. West Queen Anne reached its high water mark of $710K in October of 2011 and has since seen prices trend downward to $648K down from $665kÂ as reported on January 19, 2012.
Inventory levels in both Queen Anne zip codes Â continues trending downward, Â Queen Anneâ€™s available homes for sale levels are down over 50% from the beginning of 2011. East Queen Anne showed a brief sign of inventory levels leveling off going into the end of January but then started to trick downward again.
This brief pause might be a good sign that buyers are starting to come back into the market and home sellers are watching for these signs of market improvement prior to listing their homes for sale.
The Queen Anne Hill location is located close to several major employment centers, South Lake Union, Downtown Seattle and just a short commute to the University of Washington.Â The neighborhood is rich with restaurants, boutiques, specialty shops, bakeries & markets, and professional services.
Many of the homes on Queen Anne Hill were built in the early 1900s with much hand crafted detailing to go along with some of the cityâ€™s best views.
This Seattle real estate market update is courtesy ofÂ Adrian WillangerÂ at Coldwell Banker Danforth& Associates 206 909-7536 helping people buy and sale homes in the Greater Seattle area.
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