Windermere Real Estate
Market Review
Seattle Metro A special report on residential real estate sales in King County 3rd Quarter 2012
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Windermere Real Estate/Wall St., Inc.
Third Quarter July / Aug / Sept 2012 Housing market rebound continues, with "slow, unprepared buyers" settling for "2nd choice" homes NWMLS, Kirkland, WA, October 4, 2012 – Home sales around western Washington continue to outpace activity of a year ago while inventory remains thin, according to new figures from Northwest Multiple Listing Service. Brokers say that combination is resulting in disappointment for buyers who are slow to accept the reality of a recovering housing market. All cash buyers are returning to the entire market, observed MLS director Darin Stenvers. "Cash offers are being made across the price spectrum, including the million dollarsplus ranges," he added. Buyers are also weighing the pros and cons of renting or buying. "The rent versus buy conundrum is still the biggest obstacle facing buyers today," Stenvers reported. Current buyers are cautiously optimistic, Moorhead reported. Clients in general are united in debt reduction, building up savings and reserves, spending more wisely than they ever have, and have an optimistic outlook of the economy as a whole. Read more on our blog: www.WindermereWestSeattle.com Area
Number of Homes Sold Q3
Average Sold Price
Median Sold Price
Days on market DOM
Houses
Condos
Houses
Condos
Houses
Condos
Houses
Condos
SEATTLE CORE Downtown, Belltown 701
Na
120
Na
$465,607
Na
$391,050
Na
55
IN-CITY Queen Anne, Magnolia 700
162
107
$669,180
$284,735
$590,203
$252,500
40
63
NW SEATTLE Ballard, Fremont, GreenLake, Wallingford 705
306
99
$507,401
$246,332
$437,500
$235,000
28
59
NE SEATTLE View Ridge, Maple Leaf, Northgate 710
306
53
$507,401
$202,388
$437,500
$173,500
28
58
CENTRAL SEATTLE Capitol Hill, Central District, Madison Park 390
182
132
$757,924
$317,735
$572,500
$243,030
43
56
SE SEATTLE Columbia City, Judkins, Mt Baker, Seward Park, Rainier 380
147
4
$347,337
$146,350
$303,000
$140,950
52
142
SE SEATTLE Beacon Hill, Georgetown, SODO 385
70
5
$293,703
$176,300
$283,500
$168,500
53
130
WEST SEATTLE 140
331
48
$372,703
$243,889
$340,000
$198,500
41
90
Real Estate Trends September 2012 Months of Supply: most areas of Seattle Metro showing 0-3 months of supply a “Sellers Advantage�
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.
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Windermere Real Estate—West Seattle Office 4526 California Ave SW, Seattle 98116 206.935.7200 www.WindermereWestSeattle.com