Tuesday, August 24, 2010

Seattle is awesome

We all know Seattle is awesome. We live here, right? But aside from the naked bicycle riders, flying dead fish, good coffee, and Seafair, Seattle's economy is far superior to the majority of the country. Currently, the real estate market is nowhere near where it was in 2004, obviously, but it is not the apocalypse as many national media outlets would lead you to believe.

Here is the proof. Below, in my previous post, is the article featured in today's Seattle Times. CNN, MSN, and Fox news all had similar stories. The housing market is the weakest it has been in 15 years with home prices dropping by 27%. Yes, that sucks. Nationally, we have a very long road ahead of us. Thankfully in Seattle, our road is a little smoother.

Let's take a look at some numbers. The proof is in the pudding:
(numbers provided by ziprealty.com)

SNOHOMISH COUNTY

JULY 2009-- JULY 2010 -- PERCENT CHANGE

% Sold Price to Asking Price : 98%-- 98%-- 0%
Sold Price Per Home : $319,227-- $324,388-- 2%
Asking Price Per Home : $313,617-- $318,626-- 2%
Sold Price Per Sq. Ft : $164-- $156-- -5% (yeah, this kind of stinks)
MLS Days on Market : 132-- 103-- -22% (but this is looking better)
Available Homes on Market : 5,743-- 5,881-- 2% (really good)

KING COUNTY

JULY 2009-- JULY 2010-- PERCENT CHANGE

% Sold Price to Asking Price : 96%-- 96%-- 0%
Sold Price Per Home : $447,867-- $495,597-- 11%
Asking Price Per Home: $429,541-- $475,005-- 11%
Sold Price Per Sq. Ft : $216-- $225-- 4%
MLS Days on Market : 125-- 95-- -24%
Available Homes on Market : 13,965-- 14,642-- 5%

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