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Northeast Seattle's real estate market shows signs of cooling
Northeast Seattle's real estate market shows signs of cooling

Housing inventory in northeast Seattle is down 50% compared to this time last year.  Inventory levels started declining downward in September 2011, and with the exception of a few months, have continued to trend downward.
Supply and Demand
In terms of supply and demand, the market is getting cooler, more listings are coming on the market relative to the sales demand.  However in recent weeks prices have been moving coming down after remaining strong all summer. Since it is technically a Buyer’s market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed.  Look at the listing descriptions which may show that the homes being listed are larger and newer than they have been in the past.

Buying and selling
I would really call this a situational selling market, even though listings inventory is extremely low home selling prices haven’t spiked up that quickly. Causing many sellers to hunker down for a few more years to grow equity. Conversely,   if a seller has been in their home awhile and has a fair amount of equity it might be a great time to sell.
Buyers looking to purchase in this market ... more

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