If you tell me which Seattle Zip Codes you are referring to, I will post the status here in Trulia Voices.
Seattle's a big place with various answers to your questions, depending on neighborhood, style and age of home, and Zip Code. Give me more details and I'll give you more REAL answers. Otherwise take your choice. Volume sucks and or Prices holding...both are true somewhere in Seattle. Now tell me where and we'll get down to realtiy.
2013 was a great year for the housing market. We've seen many multiple offers and cash buyers in the Great Seattle area. Homes in some popular areas were even sold at tens of thousands of dollars above the asking price. I've also read several reports predicting the trend to continue in 2014.
Full stories for each headline at the attached link.
Mortgage Applications at 13 year low
Goldman Sachs predicts Seattle to fall 20% in 2 years
Appraisers Coming In Low To Avoid Lawsuits
Home Sales Decline 44% after April Tax Credit ends.
Compared to the rest of the nation, the Puget Sound has had a great housing market. Nothing like 2005 and definitely back to more of a "realistic" market. Things are moving a smidge slower than usual. Yet, as you have heard before, there are many buyer's sitting on the fence waiting for something to happen. Our job market is fabulous, in fact many companies are hiring and adding employees, and interest rates are low, all adding to a great market.
King County is the hub but there are a lot of great areas that surround Seattle going North and going South of Seattle. I am in Pierce County about 30-40 minutes south of Seattle. Pierce County has affordable housing with an average selling price in 2007 of 396,000.
I specialize in relocations and have had many a client say to me that this was the best move they made. They love it here as much as I do. Hope that helps...
Put my knowledge on your side!
Karen Miceli, ABR, CRS, GRI, Realtor
"Beside you with each step..."
Check out this article about the Seattle Metropolitan market that was just in our local paper yesterday...note that this does not cover the areas surrounding Seattle including the east side.
Also...you may want to check out. It does a fairly good job of predicting local markets all over the country based on a number of factors. You will notice that it rates Seattle real estate (and Washington state real estate in general) fairly well.
I think most agents around here would say that we have been happy with the increase in activity in the past couple of weeks...there is still some junk to weed out and new expectations to manage in this market but it is also nice to see the increased activity here.
Despite the national media who are lumping all real estate markets into one, we know that real estate markets are local and can not be managed or tracked outside of their individual locales.
Currently the Kirkland, Lake Washington and Seattle areas are still plugging along. While the inventory dropped over the holidays with many sellers taking a break, a large number of those homes have re-listed yet not all at lower prices. All along the inventory has been up from the same time in 2006 with fewer buyers looking due to economic fears and waiting to hear how the lending business will turn out.
However, even with the higher inventory we are definitely seeing more traffic through our local listings. Agents are getting back to work and previewing the inventory readying themselves for when that buyer comes along. Buyers are starting to take a look at what is available and talking once again with loan officers about their options.
You can feel the momentum in the market and smart buyers are educating themselves with accurate information not just about the national economy but about the strength of their state and regional markets as well.
On the Eastside of Lake Washington we have had regular sales of homes, since the first of the year, in the first time homebuyer prices, which here runs between, 350-450k for a single family home. It's still a buyers' market due to over supply and under demand, but sellers aren't exactly slashing prices so we'll see how long before the market truly equalizes.