As the cost of real estate continues to soar in the Seattle area, far outpacing wage growth, many buyers are being priced out of single-family homes. This is causing a bit of a surge in the condo market: While single-family home sales in King County were flat last month, condominium sales soared by nearly 6…
Doubt Creeping into Some Buyers’ Minds?
More indications that the Seattle area is still red-hot: Compared with median prices for homes and condos sold a year ago at this time, prices were significantly higher throughout the county last month, according to the Northwest Multiple Listing Service’s latest numbers. The number of days that those homes and condos were on the market…
Seattle’s Hot Market Not Limited to Homes
The real estate craze in Seattle apparently isn’t limited to just the housing market. Even downtown buildings are being bought for far more than it seems they should be worth. The thunderstorm of investment in Seattle real estate kept rumbling as a Texas real-estate investment firm paid $23.6 million yesterday for the 12-story First &…
Seattle Bubbles Over, All the Way to Olympia
It would seem that Seattle’s red-hot bubble-market is bleeding over into the less-populous portions of the Puget Sound region, even as far down as Olympia. Every month, the median sales price of Thurston County homes sets a record. The record set in June was $228,500 Far lower than the insane average in King County, but…
Seattle Times’ Silly "Logic" Mocked Further
It would seem that there’s at least one person out there that agrees with my analysis of the recent Seattle Times article, “Housing market sizzles, shows no sign of bubble.” That person would be Bill Fleckenstein, who writes: That oxymoronic headline sets the tone for what follows — a very creative, though completely false, bit…