As a resident of South King County I have watched prices in the Bellevue/Kirkland areas skyrocket over the last two decades. While the entire Puget Sound region has not been immune (as many had predicted) from the real estate slowdown, it seems some of the more affluent areas of King County have seen a much larger price softening than the rest of us.
According to a report published by Ticor Title, homes prices in King County through May have fallen approximately 4% on average compared to 2007. However those areas with the highest percentage drop include Clyde Hill (down 25%), Yarrow Point (down 62%) and Medina (down 29%). Interestingly enough, Mercer Island & Seattle seem to have been fairly well insulated with only a 1% and 2% drop respectively in average price over 2007.
Colleen Fischesser is the Broker/Owner of RE/MAX Select in Maple Valley, WA. She has been successfully selling and marketing properties all over South King & North Pierce counties since 1990. She may be contacted directly at: 425-432-5400 Copyright 2008, All Rights Reserved Colleen Fischesser
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