Zillow report on neighborhood by neighborhood price changes
Check this out. It's very detailed info on price changes at the neighborhood/zip code level
http://www.zillow.com/static/xls/2008Q1 ... WA_MSA.xls
It appears that the price changes are all based on actual transactions, so you don't have the "zestimate" phenomenon in play.
My quick takeaway: Neighborhoods (just for "seattle" which seems to be King County) at the low end of the market (<$400k) are generally down over the last year but appear to be recovering in the last quarter. Neighborhoods at the high end of the market seem to have held their own for the year but have started to head down in the last quarter.
http://www.zillow.com/static/xls/2008Q1 ... WA_MSA.xls
It appears that the price changes are all based on actual transactions, so you don't have the "zestimate" phenomenon in play.
My quick takeaway: Neighborhoods (just for "seattle" which seems to be King County) at the low end of the market (<$400k) are generally down over the last year but appear to be recovering in the last quarter. Neighborhoods at the high end of the market seem to have held their own for the year but have started to head down in the last quarter.
Comments
http://www.zillow.com/quarterlies/QuarterlyReports.htm -- link on this page to "Q1 Supplemental Report." It really illustrates that later-peaking markets may yet have some falling to do to catch up to the trend; I don't know why but when I talk about local real estate with friends and colleagues, that concept is maddeningly resistant to assimilation. People think that if it hasn't happened yet, it's not going to happen at all. But look at all that 2003, -4, -5 action in the "Last Time Market Was At Current Level" column. Yikes. Lots of houses around here sold for a lot of money since then...