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A PRESENTATION ON IN-CITY HOUSING MARKET CONDITIONS (FOR SALE /
RENTAL)
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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 -
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1,000
A DEVELOPMENT CYCLE UNLIKE ANY OTHER…what’s next?
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NWMLS AREA 701 – DOWNTOWN SEATTLE
CASE SHILLER HOME PRICE INDEX
CASE SHILLER HOME PRICE INDEX
NWMLS AREA 701 – DOWNTOWN SEATTLE
NWMLS AREA 701 – DOWNTOWN SEATTLE
NWMLS AREA 701 – DOWNTOWN SEATTLE
NWMLS AREA 701 – DOWNTOWN SEATTLE
NWMLS AREA 701 – DOWNTOWN SEATTLE
NWMLS AREA 701 – DOWNTOWN SEATTLE
NWMLS AREA 701 – DOWNTOWN SEATTLE
Here are the most notable trends for NWMLS Area #701 (downtown Seattle) condominiums:
•MEDIAN HOME PRICES IN 2011 UP 5% •TOTAL SALES IN 2011 $1 MILLION+ UP 20% •TOTAL SALES VOLUMES IN 2011 UP 4% •CLOSED SALES TRENDS* UP 10% •TOTAL ACTIVE INVENTORY* DOWN 36% •NEW LISTING TRENDS* DOWN 51%•TOTAL NEW CONDO DELIVERIES ZERO
*Trends compare trailing 120 days compared with previous year
POSITIVE MARKET FUNDAMENTALS ATTRACTING ATTENTION
BUY OR RENT?
BUY OR RENT?
BUY OR RENT?
BUY OR RENT?
King County homes reach record affordability
Sales of existing homes in the fourth quarter were up by a seasonally adjusted 6.5 percent from the third quarter and 10.6 percent from a year earlier, according to a report that the Runstad Center for Real Estate Studies at the University of Washington released Thursday. But the median price, $320,000, was down 13.5 percent from a year earlier.
Also Thursday, the Seattle-based real estate website Zillow reported that the typical home in King, Pierce and Snohomish counties was worth $250,900 in December, down 0.6 percent from November and 8.5 percent from a year earlier. The typical Seattle home was worth $348,200, down 1.4 percent from November and 4.4 percent from December 2011.
By AUBREY COHEN, SEATTLEPI.COM STAFFThursday, February 9, 2012
THE NEXT DEVELOPMENT CYCLE - ALL APARTMENTS IN PIPELINE
APARTMENT RENT TRENDS – CENTRAL KING COUNTY
Survey Date
Market Vacancy %
Average Rent
% Offering Incentives
Rent Increase Planned
9/1/2011 3.50% $1,255 6.10% 3.60%3/1/2011 3.60% $1,192 14.10% 2.60%9/1/2010 3.60% $1,180 23.60% 1.90%3/1/2010 5.00% $1,151 54.90% -0.80%9/1/2009 5.60% $1,177 52.30% -0.80%3/1/2009 6.40% $1,190 43.20% -1.90%9/1/2008 3.50% $1,230 7.30% 3.20%3/1/2008 3.70% $1,173 7.70% 3.60%9/1/2007 3.40% $1,169 2.70% 4.00%3/1/2007 3.20% $1,084 2.50% 4.40%9/1/2006 3.30% $1,042 3.30% 4.40%3/1/2006 4.00% $1,004 9.00% 3.50%9/1/2005 4.00% $984 22.60% 2.40%3/1/2005 5.30% $987 44.20% 1.60%9/1/2004 5.40% $973 47.80% 1.20%3/1/2004 6.70% $969 57.10% 0.80%9/1/2003 6.80% $993 57.50% 0.50%3/1/2003 7.40% $965 69.50% 0.10%9/1/2002 7.00% $955 56.90% 0.60%3/1/2002 8.10% $962 54.90% 0.40%9/1/2001 5.30% $1,006 20.70% 1.30%Averages 5.00% n/ a 31.30% 1.70%
Rental Market Trends for King-Central
© Copyright 2012 by Dupre + Scott Apartment Advisors, Inc.
APARTMENT RENT TRENDS – CENTRAL KING COUNTY
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Information was obtained from sources deemed reliable but cannot be guaranteed. Viewers are encouraged to perform independent due-diligence before relying on any information contained in this presentation. Presenters are expressing individual
opinions only. E&OE.