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Prices In Seattle Are NOT Going Down!

Ok, so I know that statement contradicts the little Altos graph to the right of my blog that shows a 9-month snapshot of our market. But, as we Realtors need to keep reminding the public, real estate is an investment for the long term.  It is not considered a liquid asset, so, perhaps if only to make us feel better we should take a step back and look at all that we've gained during the past 10 years:Annual Appreciation-Median Value SFR and Condos

In the Puget Sound region we have seen, and hopefully have personally experienced, this appreciation.  History has shown time and time again that every strong market eventually experiences a temporary slowdown or 'correction'. 

So don't let the little short-term snapshots fool you into thinking we're in a terrible market.  On the contrary, it may just be time to go out there and buy something now, since CLOSED home sale prices in our area are still rising, but not in the double digits like we've seen in previous years.  For the moment, buyers, you're getting the break you deserve.

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Comment balloon 2 commentsLisa Bosques • November 05 2007 09:44AM

Comments

Real estate is local ... there are many markets that are doing well ... the mass media almost never reports on those because we as Americans seemed to be more fascinated by doom and gloom than steady and consistent
Posted by Allen C. Wright, NS, AHS, REPS (RealtyU) about 11 years ago

Lisa,

I totally agree with you.  I think this is the best market for buyers.  Sellers are willing to give concessions and we are seeing more availability for these buyers to get financing.

Karen

Posted by Karen Inch about 11 years ago

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