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Issaquah Home Prices Stabilizing - Some Increasing

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ISSAQUAH HOME PRICES APPEAR TO BE STABILIZING

Good news! It appears that Issaquah real estate and home prices are beginning to stabilize. And even better news, August now ranks as this year’s best month for both pending and closed sales around Washington state, according to the NWMLS. Also in August, pending home sales were up 66.25 percent compared to August of 2010.

The graph below (*) shows the median price for both a single family home and condo/townhouse in Issaquah from the middle of 2006 to July 2011. The orange line represents single-family homes, while the black line is for condos/townhomes. Note that the information was not available for pricing on condos/townhomes prior to 2008.

Issaquah Home Price Trends

Single family home prices in Issaquah reached a median price of approximately $725,000 in mid 2007 and stayed in a somewhat narrow range until the first of 2009. The median price then decreased to a low of about $510,000 in early to mid 2011, but has now increased slightly, to approximately $525,000.

Though the percentage decrease from the highest to lowest was about 30%, prices are now up about 3% from the lows. More importantly however, median price decreases for single family homes in Issaquah appear to have now leveled off and are now beginning to slightly increase.

The picture is different for Condo and town-home prices. They reached a median price of about $340,000 at the end of 2007 and stayed in a somewhat narrow range until the middle of 2009.  The median price then decreased to a low of about $205,000 where it generally remains. The percentage decrease from the highest median price to the lowest was about 40%, a significantly greater percentage decrease than for single family homes.

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(*) The graph is courtesy of Altos Research LLC.

Posted by

RealFX Group at Coldwell Banker Danforth


Anthony Gilbert, REALTORĀ® is a real estate agent with Coldwell Banker Danforth
serving residential home buyers and sellers on Seattle's Eastside.



The RealFX Group at Coldwell Banker Danforth Real Estate

2111 Northgate Way Suite 101

Seattle, WA 98133

www.realfx.com
www.anthonygilbert.com

Call Direct: 425-677-5603

Comments (2)

Charlie Dresen
The Group, Inc - Steamboat Springs, CO
Steamboat Springs, CO e-Pro

Great news. I would have thought Issaquah might have recovered after the Seattle area. Which may be the case but it's good news none the less.

Sep 10, 2011 08:36 AM
Anthony Gilbert
Issaquah, WA
Real Estate SEO

Hi Charlie - thanks for stopping by. Seattle proper is doing better as well, but the 90 day trend is not as impressive as the Issaquah area. In fact, in Issaquah, Bellevue & Sammamish, there are multiple offer situations taking place on homes that are well-priced, in good condition, and in good locations relative to the largest employers.

Sep 10, 2011 08:57 AM