Friday, May 16, 2008

Friday- Seattle Real Estate

Georgetown
Ballard Brass has signed a lease for 47,000(+) sqft in Georgetown at NW Corporate Park X (not sure where that is. Thanks to NAI Puget Sound Properties- 1st quarter report.

Seattle Median Home Prices- Compare of April 2007 to April 2008
My neighborhood has declined by 16%. Doesn't seem that way. Beacon Hill has the lowest median prices in the central close to downtown core. Info below is courtesy of Rob Graham.

Seattle Median Home Prices April '07 vs. April '08 by Neighborhood

Neighborhood Median Price April '07 Median Price April '08 Change

West Seattle

$427,825.00

$398,450.00 -6.87%
Mount Baker /Seward Park $405,000.00 $391,944.00 -3.22%
Beacon Hill /Georgetown $395,000.00 $331,000.00 -16.20%
Madison Park / Capitol Hill $607,000.00 $499,888.00 -17.65%
Queen Anne / Magnolia $699,000.00 $670,000.00 -4.15%
Ballard / GreenLake $475,000.00 $454,000.00 -4.42%
North East Seattle $499,997.00 $445,000.00 -11%
Richmond Beach / Shoreline $398,000.00 $392,000.00 -1.51%
Lake Forrest Park $412,000.00 $415,000.00 0.73%
Bellevue South / Issaquah $674,950.00 $650,000.00 -3.70%
Bellevue West $1,159,650.00 $1,080,000.00 -6.87%
Bellevue East $580,000.00 $532,500.00 -8.19%
Issaquah / N. Bend / Snoqualmie $604,975.00 $552,500.00 -8.67%
Redmond / Carnation $719,975.00 $620,000.00 -13.89%
Kirkland / Bridal Trails $699,500.00 $665,000.00 -4.93%
Juanita / Woodenville / Bothell $530,000.00 $499,000.00 -5.85%

Seattle Home PricesHere are the numbers for April last year, compared to this year, single family homes. The numbers look pretty bleak, but the good news is that these numbers are still well above the national average. Also, keep in mind that many of you who are selling your home are also buying in the Seattle area. If that is the case, while you may be getting slightly less for your home, you are also paying less for the home you are buying. If you are selling and moving out of the area, you are in even better shape, because many areas of the country have experienced even more of a drop off. If you are a first time home owner, you are getting bargains compared to last year, and interest rates are still low.

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