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King County Sales Statistics vs Local Area Statistics
Well, the Times printed another gloom and doom article this morning. It talked about how much sales have gone down from Q1 to Q2 of 2008. Their statistics were for all of King County and only for resale homes.
It did not feel right to me, so I ran some statistics of my own. It only took a few minutes with the NWMLS statistics search. I ran Eastside (South Bellevue to Woodinville) and City of Seattle separately, all homes and condominiums sold, Q1 and Q2, 2007 and 2008. Here’s what I found; pretty much what I expected. This shows the number of closed sales and median prices.
Eastside 2326/$502k 3161/$530k 1437/$510k 1975/$525k
Both the number of sales & closed sales prices were up Q1-Q2 each year. The volume was down from 2007 to 2008. Sales prices are nearly steady from 2007 to 2008.
Seattle 2470/$400k 3724/$415k 1889/$402k 2346/$415k
Both the number of sales & closed sales prices were up Q1-Q2 each year. The volume was down from 2007 to 2008. Sales prices are nearly steady from 2007 to 2008.
This evaluation concludes that Median Prices are virtually unchanged from 2007 to 2008. Volumes are down considerably. I did run different statistics than the Times and did not check their numbers. They may be correct, but really reflect what I consider to be a skewed view of the market; likely created by including all of King County property. While the Times may be catering to all of King County, I think more local statistics are of greater use to the public. After all, Real Estate is a local phenomenon.
Whenever you would like information on your property value or general property values and trends, I am happy to help. Please contact me at betsy@betsyweyer.com or 425-444-3305.
Betsy Weyer
August 16, 2008
We're The Most Adventuresome!
But you already knew that!
Seattle was chosen as the Top City for the Adventuresome to Live, as announced by the National Geographic Adventure Magazine in their September 2008 issue. The magazine says its choices are innovative towns that welcome people who relocate there. The magazine also says these cities have plans for becoming even more attractive, without sacrificing green spaces or jobs. The top 10 picks follow:
1) Seattle, Washington
2) Hood River, Oregon
3) San Francisco, California
4) Missoula, Montana
5) Ogden, Utah
6) Carbondale, Colorado
7) Grand Marais, Minnesota
8) San Antonio, Texas
9) Brattleboro, Vermont
10) Boston, Massachusetts
Here's to a little outdoor adventure in our wonderful area!
Betsy Weyer
August 14, 2008
Introducing RealThoughts.Org
Real Estate is a fascinating business and profession. Even after 16 years in Residential Listing and Sales and 12 years in the Title and Escrow business; I can truly say I learn something new or see something new to me nearly every day!
It gives me great satisfaction to represent Buyers and Sellers of Single Family Homes, Condominiums and Vacant Land. I take very seriously the responsibility of representing my clients' best interests in these transactions; providing my clients with the background information and analysis of this information to assist them in making the best decisions regarding their Real Estate.
This blog is intended to serve two purposes. Real Estate Information and Analysis will be the greatest part. My goal is to put mainstream media Real Estate information into the context of our local market. What the media presents as Real Estate News may be true nationally, or in other areas, but have nothing to do with the Seattle/Bellevue/King County market. I'll also be posting tips that may be of use to you in your personal Real Estate Transactions. My second purpose is to give you information on local businesses that you may or may not have heard of.
Your feedback and input is greatly appreciated! I hope to make this blog interesting and useful.
Sincerely,
Betsy Weyer, Associate Broker
Certified Residential Specialist
Windermere Real Estate
