For single family homes in 98122 priced below $800,000: 2 years ago there were 70 homes for sale. 1 year ago there were 40. Today there are 16.
Prices are up 15% (12% based on price per square foot) in the 98122 zipcode for houses priced less than $800,000. This also happens to be approximately 15-20% more than homes were worth in 2005.
Two years ago there were 70 houses for sale in our area. One year ago there were 40. Today there are 16. The number of sales has remained steady in a range of 15-20 sales per month for the past two years. I believe that we are on the verge of a severe supply and demand imbalance which will result in dramatic price increases in the next few months.
If you have any questions at all call Dan Sanchez at John L Scott Real Estate at 206-499-9025
The above information is based on my own opinion of the statistics that I gathered and should not be used for any purpose unless independently verified by the reader.