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Existing Home Sales Reach Four Year High in Seattle
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You're Now Reading:
Existing Home Sales Reach Four Year High in Seattle
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Existing Home Sales Reach Four Year High in Seattle
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August 4, 2011 (Shirley Allen)

Existing home sales in Seattle hit a four year high in June, but were still slightly lower than the levels seen a year ago. Meanwhile, new home sales fell to their lowest level in 17 years according to real estate information provider DataQuick.

A total of 4,406 new and resale homes and condos closed escrow in the Seattle-Tacoma-Bellevue metro area in June. Sales were 16.5 percent higher than May, but were 2.4 percent lower than June of 2010.

Home sales in the region typically increase 10.1 percent between May and June, but even with this month’s impressive figures, sales were still 29.7 percent below the historical average for the month and were the third lowest for a June, only surpassed in futility by June of 2008 and 2009.

A total of 3,822 existing homes and condos were sold in June, the most since June of 2007, however, new home sales remained at depressed levels with only 584 new homes closing escrow.

Cash buyers were responsible for 20.9 percent of the purchases in June, which was the same as in May, but up from 16.5 percent a year earlier.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in June was $212,750, which is down 5.4 percent from May, and 23.9 percent lower than June of 2010.

Absentee buyers, usually investors and vacation home buyer’s, accounted for 15.6 percent of all homes sold in June. The prices they paid were also less than previous months with the median price paid in June being $210,000, down 4.1 percent from May and down 21.6 percent from June of last year.

The overall median price paid for new and resale homes and condos in June was $268,000, which was up 1.5 percent from May, but down 9.4 percent from June of last year.

The current median price is 26.6 percent below the peak median price of $365,200 in November 2006.

Distressed sales represented 42.7 percent of the resale market in June as foreclosures accounted for 28.8 percent of the distressed sales and short sales accounted for 13.9 percent of the distressed sales.

Foreclosures continued at a high rate in June with lenders foreclosing on 1,079 single-family homes and condos, down 7.7 percent in May, but up 24.5 percent from June of 2010. Foreclosures are up 46.6 percent during the first six months of 2011 compared to the same period in 2010.

Tags: DataQuick, existing home sales, Seattle, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

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Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
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August 4, 2011 (Shirley Allen)

Existing home sales in Seattle hit a four year high in June, but were still slightly lower than the levels seen a year ago. Meanwhile, new home sales fell to their lowest level in 17 years according to real estate information provider DataQuick.

A total of 4,406 new and resale homes and condos closed escrow in the Seattle-Tacoma-Bellevue metro area in June. Sales were 16.5 percent higher than May, but were 2.4 percent lower than June of 2010.

Home sales in the region typically increase 10.1 percent between May and June, but even with this month’s impressive figures, sales were still 29.7 percent below the historical average for the month and were the third lowest for a June, only surpassed in futility by June of 2008 and 2009.

A total of 3,822 existing homes and condos were sold in June, the most since June of 2007, however, new home sales remained at depressed levels with only 584 new homes closing escrow.

Cash buyers were responsible for 20.9 percent of the purchases in June, which was the same as in May, but up from 16.5 percent a year earlier.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in June was $212,750, which is down 5.4 percent from May, and 23.9 percent lower than June of 2010.

Absentee buyers, usually investors and vacation home buyer’s, accounted for 15.6 percent of all homes sold in June. The prices they paid were also less than previous months with the median price paid in June being $210,000, down 4.1 percent from May and down 21.6 percent from June of last year.

The overall median price paid for new and resale homes and condos in June was $268,000, which was up 1.5 percent from May, but down 9.4 percent from June of last year.

The current median price is 26.6 percent below the peak median price of $365,200 in November 2006.

Distressed sales represented 42.7 percent of the resale market in June as foreclosures accounted for 28.8 percent of the distressed sales and short sales accounted for 13.9 percent of the distressed sales.

Foreclosures continued at a high rate in June with lenders foreclosing on 1,079 single-family homes and condos, down 7.7 percent in May, but up 24.5 percent from June of 2010. Foreclosures are up 46.6 percent during the first six months of 2011 compared to the same period in 2010.

Tags: DataQuick, existing home sales, Seattle, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

August 4, 2011 (Shirley Allen)

Existing home sales in Seattle hit a four year high in June, but were still slightly lower than the levels seen a year ago. Meanwhile, new home sales fell to their lowest level in 17 years according to real estate information provider DataQuick.

A total of 4,406 new and resale homes and condos closed escrow in the Seattle-Tacoma-Bellevue metro area in June. Sales were 16.5 percent higher than May, but were 2.4 percent lower than June of 2010.

Home sales in the region typically increase 10.1 percent between May and June, but even with this month’s impressive figures, sales were still 29.7 percent below the historical average for the month and were the third lowest for a June, only surpassed in futility by June of 2008 and 2009.

A total of 3,822 existing homes and condos were sold in June, the most since June of 2007, however, new home sales remained at depressed levels with only 584 new homes closing escrow.

Cash buyers were responsible for 20.9 percent of the purchases in June, which was the same as in May, but up from 16.5 percent a year earlier.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in June was $212,750, which is down 5.4 percent from May, and 23.9 percent lower than June of 2010.

Absentee buyers, usually investors and vacation home buyer’s, accounted for 15.6 percent of all homes sold in June. The prices they paid were also less than previous months with the median price paid in June being $210,000, down 4.1 percent from May and down 21.6 percent from June of last year.

The overall median price paid for new and resale homes and condos in June was $268,000, which was up 1.5 percent from May, but down 9.4 percent from June of last year.

The current median price is 26.6 percent below the peak median price of $365,200 in November 2006.

Distressed sales represented 42.7 percent of the resale market in June as foreclosures accounted for 28.8 percent of the distressed sales and short sales accounted for 13.9 percent of the distressed sales.

Foreclosures continued at a high rate in June with lenders foreclosing on 1,079 single-family homes and condos, down 7.7 percent in May, but up 24.5 percent from June of 2010. Foreclosures are up 46.6 percent during the first six months of 2011 compared to the same period in 2010.

Tags: DataQuick, existing home sales, Seattle, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.