Forbes Magazine recently reported that the Seattle Area Real Estate Market is the 10th best market in the country.  New York City and Washington D.C. top the list.  This certainly does not mean that prices are up or even stabilized, but it does give us some context as to where we stand with other large cities.  The NWMLS reported that our prices dropped about 14% over the last year.

Interest rates are great, there are many homes for prospective buyers to choose from and the First-Time Buyer credit will hopefully spur some activity in the entry-level homes, which should in turn, lead to activity for move-up purchasers.

When talking to sellers recently, I am pleased  to be able to show them a year's worth of statistics that can be interpreted to our current reality.  A year ago, sellers and agents were trying to price their properties looking back at a history of increasing sales prices.  Having data that clearly shows our current trend, makes it much easier to put a realistic price on property.