Our area continues to send mixed messages as sales are down from one year ago, yet prices are up. The median value for homes in King County rose 4% over July 2009. Seattle fared even better with a 10% price increase over the same period.
How is this possible? Thanks to the tax credit incentives of the past two years, a majority of sales in our area were in first time buyer price ranges. These sales skewed the numbers and brought the median averages down. As a point of comparison, in July of 2009 26% of sales in Seattle were $500,000 or above. Last month that total rose to 40%.
To read more about July's sales data for our region, including Snohomish and Pierce counties, Click Here.
Throughout history, the decision to buy or sell real estate has always been a very personal one. What seems like a perfect opportunity for some, may be viewed as risky or foolish by others...there simply are no guarantees in this industry, nor life. Don't let others talk you into or out of something, do your homework, partner with a trusted professional, and follow your gut.
If you have questions, or would like to learn how you can take advantage of current market conditions to better your personal situation, feel free to contact me anytime.
Rob (206) 799-2318 or robh@remax.net
