Seattlle Real Estate Market has turned, with mortgage rates at all time record lows, homes where we have sellers who can sell, Seattle has reached all time low inventory, there is less than a 3.5 month supply of homes for sale. This has heated up the market for pricing. King County in the month of June 2012 saw an increase in median home averages jump by 10%, this was the largest jump in over 5 years. We are now seeing multiple offers on homes when the home owner listens to their realtor and to price the home at true market value and not get overly excited about pricing your home out of realistic reach of today's market trends. Great news to have the sellers potential equity positions coming back. What do the numbers look like? Here is the latest trend: As of July 16 2012 there were about 13,421 single family and condo homes listed for sale in Seattle Washington. The median asking price of these homes was approximately $319,950. Since this time last year, the inventory of homes for sale has decreased by 34.0% and the median price has increased by 8.5%. July 16, 2012 Month/Month Year/Year Median Asking Price$319,950+1.6%+8.5%Home Listings/Inventory13,421+3.4%-34.0%Recent Asking Price and Inventory History for Seattle&07/16/201213,421$214,950$319,950$520,00007/09/201213,190$210,000$319,000$509,99007/02/201213,228$214,000$319,000$510,00006/25/201213,322$212,990$319,000$500,00006/18/201212,984$209,950$314,950$499,900Seattle Asking Price History The median asking price for homes in Seattle peaked in July 2007 at $409,270 and is now $89,953 (22.0%) lower. From a low of $269,280 in January 2012, the median asking price in Seattle has increased by $50,037 (18.6%). 25th, Median (50th) and 75th Percentile Asking Prices for Seattle Washington Seattle Times reported The median price of single-family homes sold last month was $380,000, up 10.1 percent from June 2011. It was the third straight month of year-over-year price increases, and by far the largest change. The last time the median rose by more than 10 percent was in July 2007, when it hit an all-time high of $481,000. After that peak, the countywide median fell nearly 36 percent, dropping to a post-housing-crisis low of $308,125 this February. With this spring's rebound, the decline from 2007's high now is 21 percent. Read the full article here:http://seattletimes.nwsource.com/html/businesstechnology/2018609970_homesales06.html Ready to List your Home? Or need a Full Up to Date Market Value? Click -I want my report
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