Seattle Market on the Mend

Posted: April 6th, 2012 by Brad

All signs point to a robust housing market recovery. Foremost, home builder confidence in the market for new single-family homes increased for the fifth consecutive month in February, reaching the longest period of sustained improvement since 2007.

The index, as measured by a National Association of Home Builders’ survey, rose from 25 to 29 on the NAHB/Wells Fargo Housing Market Index (HMI). Released in mid-February, the latest results mark the highest level the index has reached in more than four years.

More information, including the HMI tables can be found at www.nahb.org/hmi. More housing statistics are available at http://www.housingeconomics.com/.

Here’s how our Metropolitan Seattle market is performing:
 
Single Family Homes
*Months of Inventory: 3.5
Median Price: $433,000
 
Condominium Homes
*Months of Inventory: 6.4
Median Price: $258,000
 
*Inventory indicators:
More than 6 months = Buyer’s Market
Between 4-6 months = Balanced Market
Less than 4 months = Seller’s Market

Curious how the market is doing in your neighborhood or how you can get top dollar for your home? Call us (866) 766.7325.

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