There have been a few interesting articles regarding our region.
Lisa Pemberton Butler and Justin Mayo of the Seattle Times reported that for the first time in 3 years, there’s multiple neighborhoods considered “affordable” to the median income for our area.
“King County’s median household income in 2008 was $68,832, according to estimates by the state’s Office of Financial Management. At that income level, buyers had easy accessibility to six geographic areas whose median home prices were between $248,450 and $290,500, a Seattle Times home-price analysis showed. Median means half are more, and half are less. But in 2007, when the market was sizzling, only one area — Auburn, where the median price was $266,750 that year — was considered affordable. ”
Also, Eric Pryne and Justin Mayo of the Seattle Times also reported that two Seattle neighborhoods have done exceptionally well in this market.
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While most of the Seattle-area real-estate market was zigging last year, the Rainier Valley and North Beacon Hill zagged.
House prices dropped almost everywhere in King County in 2008, a Seattle Times analysis of sales data from the county assessor’s office shows. The median price per square foot slid 5 percent countywide.
North Beacon Hill/Rainier Valley bucked that trend. Big time.”
Ultimately, I hope we can see that in light of all the bad news being published, there are positive news out there. My personal experience has shown that our market has held exceptionally well compared to other markets across the country.
If you want to research trends in different neighborhoods, click the link below to find a database of different regions in Western Washington.
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