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David Monroe

Is A Boom On in Seattle Housing Market?

The Seattle housing market finally had a decent lift-off in 2012.  The shortage of home inventories, the record low interest rates, the positive belief that the market has bottomed out, and general hiring by large and midsize local employers (i.e. Amazon and Microsoft) makes 2013 have a higher potential of growth than last year.  

The median price of a single family home in NW Seattle (Ballard, Fremont, and Green Lake) rose from $399,000.00 to just over $425,000.00, a 6.5% increase.  The average on market time decreased from 42 days to 32.  Most realtors use the rule of thumb, that a 90 day or longer supply of homes is a buyer's market and anything less a sellers.   We had the supply of homes in 2012 in NW Seattle decrease from a three month average in 2011 to 1.4 months in 2012.  The trend for 2013 seems to be stable or lower time on market.  Add this factor to expected continued low interest rates, low housing inventories, and competitiveness of popular neighborhoods like NW Seattle and we seem to have a recipe for a housing boom

Published Sunday, April 7, 2013 10:41 AM by David Monroe

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Amos Rowe said:

This is a really good analysis. I have also read a post about Seattle housing market on http://www.topaperwritingservices.com/review-bestessays-com/.It was quite similar to your analysis.Keep up the good work!

March 2, 2018 7:38 AM

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