Wednesday, February 11, 2015

2015 Housing Market Off To A Good Start

Wash Park Homed*Synced from Seattle and Real Estate
Historically, mid-winter has been a sluggish time for home-price growth for the national housing market, and while the median price for a single-family home did decline from December to January this year, it fell by a mere 1.2 percent, signaling a stronger than normal start to the new year for the housing market. As a comparison, in recent years month-to-month price declines from December to January have been recorded at 2.8 percent (2014) and 3.5 percent (2013). Redfin reports that the combination of an increase in listings and buyer demand has led to lots of activity, and prices are up 7.6 percent over the year.
Closer to home, supply is still low in the Seattle area, and prices continue to rise. The median price for a single-family home in King County this January was recorded at $441,500, up from $410,000 in January 2014. The city of Seattle saw the median price rise to $517,500, up 12.5 percent over the year. The Seattle Times reports that inventory in Northwest Seattle is down to a three-week supply, driving prices in that area up 19 percent over the year. In the Seattle market as a whole, inventory has been hovering around the two-month mark for several months. Generally, a four-to-six-month supply constitutes a healthy housing market.
If you are interested in buying or selling a home in the Seattle area, contact your local real estate agent today.


Levi Bryde said...

The biggest investment we make in our lives is purchasing a house. You should hire real estate agents if you want to make this investment without any difficulty. Because a real estate agent will handle all of the processes, you will be able to purchase your house quickly.

kevinnelson said...

The 2015 housing market saw a strong start with a 1.2% decline in median home prices from December to January, driven by increased listings and buyer demand. Low supply in Seattle contributed to rising prices, presenting a favorable real estate scenario. virginia personal injury defense lawyer

shane said...

The housing market refers to the buying and selling of residential properties, encompassing all aspects related to real estate transactions. It involves the supply and demand for homes, property values, mortgage rates, and economic factors influencing housing affordability. Fluctuations in the housing market impact both buyers and sellers, shaping the overall real estate landscape.
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