Recent posts on Sweet Digs Seattle:
- Desperate Homesellers
- Déjà vu
- Eastside Price Reductions to Celebrate St. Paddy’s Day
- Higher Non-Jumbo Loan Limit Leads to New Possibilities
- Stuff You Don’t Know Until You Get There
- Save a Buck, Lose an Hour
- Seattle: Sometimes it’s the Worst of Both Worlds
- What Housing Inventory Says about Future Real Estate Prices in King County
In February King County had a meager 0.45% gain in average price of sold homes over this same time last year according to the latest MLS data. Last year we were one of three metropolitan areas in the country to post modest gains while the rest of the country slid.
The gains in Seatte have been consistently “sliding” since August 2007 yet it seems our local director of the Washington Center for Real Estate is still optimistic. Though he seems to believe prices here weren’t as “far out of kilter” what is definitely out of kilter with prices in Seattle is affordability. Even with a strong local job market an increase in inventory coupled with few people in the pool that can purchase these homes is creating a recognizable trend.
In housing slump, some places still robust:
While Ross and surrounding Marin County may be a special case, a report last month by S&P/Case-Shiller showed that three metropolitan areas posted modest gains in home prices last year — Seattle; Portland, Oregon; and Charlotte, North Carolina
Seattle’s home prices may give up some gains — but not much, because “they weren’t as far out of kilter as in other places,” said Glenn Crellin, director of the Washington Center for Real Estate.