Guide To Seattle Real Estate

Here we see the Median Price of Listed Homes in West Seattle(98116,09136,98126).

All too often this statistic is used to “gauge” appreciation, it doesn’t tell us appreciation.  It really tells us what West Seattle Sellers think their home is worth.  A “Median” is the point where half of the sample is higher and half is lower.  It is a form of averaging.  It tells us that in July ‘07 half of the sellers in 98116 thought their home was worth over $700,000.  Today half think their home is worth more than $625,000.

In any market it is more important to know what the Buyers think than the Sellers.  Buyers set the “market price” of a home.  Sure, Sellers can wait until, if ever, a buyer offers their price.  But if know one does, is it really the market price.  No, it is just the asking price.

If you are interested in knowing what this means for you or for statistics for somewhere else in Seattle, give me a call (206)579-5605.