Seattle condo & home inventory in December 2011 versus December 2011
Based on Northwest Multiple Listing Service data, here is an update on condo & home inventory in the greater Seattle area in December 2011 versus December 2010.
Areas reported: Downtown Seattle, Queen Anne / Magnolia and surrounding neighborhoods (Interbay, Lake Union, Westlake), East Central Seattle (Capitol Hill, Madison Park, Madrona, Washington Park and surrounding neighborhoods), Northeast Seattle (Laurelhurst, Windermere, Hawthorne Hills, View Ridge, Bryant, Ravenna and other neighborhoods from Lake Washington to Shoreline), Northwest Seattle (Ballard, Greenlake, Wallingford, Fremont, Blue Ridge and surrounding neighborhoods), West Bellevue (Clyde Hill, Medina, Beaux Arts and surrounding neighborhoods) Kirkland and Mercer Island.
You will see a few changes in this report: I am using graphs instead of text and I eliminated information about condos in reported areas, except for Downtown Seattle.
Inventory was down 32% in all reported Seattle areas combined
Average price of available condos & homes was up 8% in reported Seattle areas.
Median price of available condos & homes was up 6% in reported Seattle areas.
Improving price of existing inventory is a good sign. Why? Because homes are priced by owners based on recent sales. It indicates that consumer confidence is growing.
In King County inventory was down 25%; average price down 3%; median price down 3%.
Information based on Northwest MLS data.
Information deemed reliable but not guaranteed.
Information and photos posted by Ally Wangsness. The content may not be copied, reproduced and republished without the written permission of Ally Wangsness, Broker, RE/MAX Metro Realty, Inc.
