Monthly Archives: January 2012

Case-Shiller: Seattle Home Values Even from February to November

The S&P/Case-Shiller Index for November has been released, and the Seattle index stands at 132.65; about even with February’s 132.85.

Since January 2011, values have fallen 2.04%; nationwide, they’ve fallen 1.63%.

The index is set to 100 in January 2000, meaning that today’s values are 32.85% higher than then. Broadly speaking, current values are at Summer 2004 levels.

Chart
November 2011 132.65 - 6.3%
November 2010 141.57 - 4.7%
November 2009 148.56 -10.6%
November 2008 166.23 -11.2%
November 2007 187.14 + 1.8%
November 2006 183.88 +13.0%

Nationwide, values are at April 2003 levels, at 138.49. The cities with the highest gains since January are: Detroit 4.48%, Washington DC 1.88%, and Denver 1.68%. Biggest losers were: Atlanta -11.36%, Las Vegas -7.88%, San Diego -3.55%, Los Angeles -3.11%.

Link to S&P/Case-Shiller Index

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Incredibly Exciting News! Multiple Offers! Bidding Wars!

There were more than a few reports of multiple-offer situations at today’s office meeting at Lake & Company, which may be the beginning of a happening market – something we haven’t had in a long while now! One property had been on the market for many months and received four offers over the weekend; there were quite a few reports of representing buyers in multiple-offer situations; this is incredibly exciting news!

Inventory is low. A quick check of the NWMLS shows that – according to our calculations, not theirs – that there is about a 5½-month supply of condos and about a 2¾-month of single family homes. Generally speaking, a six-month supply is considered “balanced,” so right now, there is short supply and, if today’s meeting is at all representative, increased demand.

Incredibly Exciting News! Multiple Offers! Bidding Wars!

There were more than a few reports of multiple-offer situations at today’s office meeting at Lake & Company, which may be the beginning of a happening market – something we haven’t had in a long while now! One property had been on the market for many months and received four offers over the weekend; there were quite a few reports of representing buyers in multiple-offer situations; this is incredibly exciting news!

Inventory is low. A quick check of the NWMLS shows that – according to our calculations, not theirs – that there is about a 5½-month supply of condos and about a 2¾-month of single family homes. Generally speaking, a six-month supply is considered “balanced,” so right now, there is short supply and, if today’s meeting is at all representative, increased demand.

1st Seattle Condo Tour A Smashing Success!

In two hours, we saw four fabulous Belltown condo properties currently on the market – a gorgeous studio with views of the Sound, Olympics, and sunsets through floor-to-ceiling windows that we have listed in the Matae Belltown, $185,000; a spacious 1-bedroom in the Gallery, a building with the most amazing set of party and entertainment amenities, $315,000; a fabulous 1144-sf 7th-floor corner unit with floor-to-ceiling windows at the Mosler Lofts, which was Seattle’s first LEED™Silver Certified building, $585,000; and the pièce de résistance. a completely captivating 2-BR corner on the 19th floor of the refreshed Bay Vista Tower with astonishing views, actually bargain-priced at $727,000.

Our next tour will be held on either February 25 or March 3, and we haven’t decided on a location, so if you’d like to make suggestions . . . !

1st Seattle Condo Tour A Smashing Success!

In two hours, we saw four fabulous Belltown condo properties currently on the market – a gorgeous studio with views of the Sound, Olympics, and sunsets through floor-to-ceiling windows that we have listed in the Matae Belltown, $185,000; a spacious 1-bedroom in the Gallery, a building with the most amazing set of party and entertainment amenities, $315,000; a fabulous 1144-sf 7th-floor corner unit with floor-to-ceiling windows at the Mosler Lofts, which was Seattle’s first LEED™Silver Certified building, $585,000; and the pièce de résistance. a completely captivating 2-BR corner on the 19th floor of the refreshed Bay Vista Tower with astonishing views, actually bargain-priced at $727,000.

Our next tour will be held on either February 25 or March 3, and we haven’t decided on a location, so if you’d like to make suggestions . . . !