May 2009 Seattle Area Market Updates
KING COUNTY
In King County, number of sales increased by 30.6% over April which is a sharp rise month over month. First time homebuyers carry the day, and we are experiencing a sharp uptick in activity in our own business as well as hearing the same from other area professionals. Multiple offer situations are common on the lowest price range homes as well as bank owned homes in most price ranges. Competition is sharp for bank inventory as it’s released onto the market. Well maintained move-in ready homes are also at a premium, and competition is fierce in the $150- 350K price ranges with multiple buyers for desirable properties. From May‘08 to May ‘09 average prices are down 14.77%.
SNOHOMISH COUNTY
In Snohomish County, the number of sales rose 26.7% from March ‘09. The average price of a residence is 11.42% lower than May ‘08. The rate of price drops is slowing.
Please remember that these numbers are county wide trends, and that real estate pricing is very localized and can also be affected by the owner’s situation.
Please call us for a closer look at properties that interest you.
Lynette Hensley
Here are downloadable PDF’s:
Real Estate Market updates for King, Snohomish Counties:
King County
Compiled by our title partner, from MLS statistics.
Lynette Hensley, Associate Broker, Realtor
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