Home Buying in Seattle>Question Details

Colin Osing, Home Buyer in Seattle, WA

how are sales in Seattle?

Asked by Colin Osing, Seattle, WA Tue Apr 7, 2009

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$300k and under is flying is prepared properly for the market, $500k and under is still selling, but taking longer, and upper price ranges are much slower - from what I am seeing. Although a very special well priced house will still sell relatively quickly in almost any price range.

Inventory is reportedly down, but I really think that will change. I think there are a lot of people out there just holding their breath and at the first sign of any good news or upturn they will get their house listed. I hear it all the time. We still have a ways to go before we are completely out of the woods here and those additional listings might make it take longer.
Web Reference: http://www.cooperjacobs.com
0 votes Thank Flag Link Fri May 8, 2009
Pending sales were up 25% from Feb to March. Inventory is down. Those are very good signs for the market.
Web Reference: http://SeattleHome.com
0 votes Thank Flag Link Mon Apr 13, 2009
Yes, pending sales are significantly up over the past two weeks. We won't get the official numbers for April until the begining of May, but some days I see twice as many pending sales as new listings on my "hotsheet". And, homes that are priced right, clean and staged in the right neighborhoods are selling in less than a week. In North Capitol Hill over the past month, two homes priced between $1.2MM - $1.5MM had offers in less than a week; the former sold at full price, the latter sold for $1.4MM!
0 votes Thank Flag Link Thu Apr 9, 2009
I've been looking for the past 4 months and have seen more houses selling in the last month than the first 3 combined. Of course there is nothing scientific about my observations, just what I noticed from looking myself. This is based on single family homes in the 500k price range.
0 votes Thank Flag Link Wed Apr 8, 2009
Sales were up significantly from January to February. Sales are down a bit compared to last year. On the whole, the market is picking up after a really slow winter. There are a lot of homes in the "first time buyer" range selling right now.
Web Reference: http://SeattleHome.com
0 votes Thank Flag Link Tue Apr 7, 2009
Thank-you Patrick I hadn't noticed the stuff at the top of thre page thing before. Well you set me straight so I guess thats that.
0 votes Thank Flag Link Tue Apr 7, 2009

Look up at the top of the page. You'll see the words "Advice & Opinions." Colin asked a question, I gave him my opinion BASED on my personal experience. That's what Trulia is all about. I imagine if he wanted stats, he could look them up somewhere, like maybe the tab to the left of "Advice & Opinions" --- The one that says "Stats & Trends."

I understand you want facts and correlating data such as job market information, etc. My answer to this question is not an attempt to make predictions or interpret what the world economy is doing. Rob hit it right on.
0 votes Thank Flag Link Tue Apr 7, 2009

I agree with Patrick. I am seeing a lot of bottom feeding. Buyers who sat on their hands last year and saved their pennies are coming off the sidelines, but they are looking for bargains mostly.

This is usually the first sign o f a recovery. The first to brave the market are only willing to buy up what they know is discounted.

The March numbers should be good and crunched in just a few days and we will have a clearer idea of what that month looked like.

The early numbers I am seeing suggest that the market is a lot more ballanced then people think. Not a seller's market, but much less inventory then in the winter.

Once the bargain inventory is gobbled up, we will see more nibbling at the fairly priced inventory. that will be phase two of the recovery, but we aren't there yet.
0 votes Thank Flag Link Tue Apr 7, 2009
Patrick, It was provided as a source to check out and has other areas with more current articles ect.
http://www.dqnews.com/Articles/2009/News/Seattle/RRKIWA090309.aspx ... For example.

I am sure that if you have a comparable source with more current info Colin would appreciate a link.

". I can't speak for everyone, but I can talk about what I'm seeing." That sounds like an opinion and while it may be perfectly true, you present it as a opinion with no support.

My entire family lives in the Seattle area, I have property in the Seattle area, I also have an opinion but would prefer that Colin forms his on something more than that when it comes to determining the FACTS about sales in Seattle.

So opinions...Job Market?....More Foreclosures?..http://www.truliablog.com/2009/03/18/second-wave-of-foreclos… ..... What's happening with Credit Cards and what affect will that have?...Whats are the majority of sales? Tax sales? Foreclosures? Short Sales? What's the TRUE Days on Market? If a home is not a Foreclosure or Short sale how long is it on the Market?
0 votes Thank Flag Link Tue Apr 7, 2009
Good info in that chart, but it's not current. We all know what happened last year, but we're now in the second quarter of 2009.
0 votes Thank Flag Link Tue Apr 7, 2009
Colin, perhaps you will find some information here to give you an idea......http://www.dqnews.com/Charts/Quarterly-Charts/Seattle-Charts…

Hope it helps, Dunes
0 votes Thank Flag Link Tue Apr 7, 2009
Picking up. I can't speak for everyone, but I can talk about what I'm seeing. The lower price ranges are usually the first to recover in a recession and that's been the case here. My lower priced listings (and short sales) are pending now. My higher priced listings are now starting to get attention that they haven't been getting.

Buyers who I haven't heard from in months are once again calling me to look at properties. While things aren't crazy busy, I definately see improvement in the last month or so.
0 votes Thank Flag Link Tue Apr 7, 2009
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