March 2011 Statistics:
King County:
MEDIAN PRICE: $363,852 (up a little bit from last month)
DOWN 12% FROM LAST YEAR (this was -14% last month)
South King County: Kent, Federal Way, Auburn have more short sales and foreclosures, bringing King County price difference from year to year up.
INVENTORY: 10,500
6.9 MONTH SUPPLY (last month we had an 8.7 month supply)
Less inventory.
AVERAGE MARKET TIME: 117 days
Median Prices for houses is still looking stable around different neighborhoods.
These prices are compared to a year ago:
North Seattle: $410,101 EVEN (last month +1%)
Edmonds: $341,281 DOWN 6% (last month -5%)
Bothell: $343,195 DOWN 3% (last month -2%)
Bellevue: $548,727 EVEN (last month even too)
Sammamish: $574,821 UP 2% (last month +2%)
South Seattle: $280,169 DOWN 8% (last month -9%)
Overall the housing market is improving.
Median Prices for Condos compared to a year ago are stabilizing as well but not at the same rate as Single Family Residences:
Downtown: $395,083 UP 2% (this is the first positive condo statistic I've seen, last month -4%)
Capitol Hill: $275,765 DOWN 5% (last month -2%)
North Seattle: $229,279 DOWN 7% (last month -6%)
Edmonds: $262,266 DOWN 7% (-7% last month too)
The condo market recovery could be starting downtown!
Compare Median Prices for different neighborhoods:
12 month median sale price percent change is based on a comparison of the rolling average/median price for the last 12 months: 4/1/11 - 3/31/11 with the 12 months before 4/1/10 - 3/31/10.
Statistics are not compiled, posted or verified by the Northwest Multiple Listing Service (MLS).
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Kate Pedersen
Broker / Realtor ®
206.841.5947
Realty Executives
