2nd Quarter in Reviews are Out for Seattle, Mercer Island and the Eastside

Hot off the press! Our second quarter reports are out for Mercer Island, the Eastside and Seattle…for homeowners who have been beaten down by bad news over the past few years, these numbers should come as a breath of fresh air!

Mercer Island

Mercer Island enjoyed healthy sales activity during the second quarter of 2012, with both the number of sales and average sales prices showing gains over last quarter. Condominiums saw the strongest surge, with sales up 100% over last year. We are continuing to see a low supply of homes for sale combined with increased buyer demand, with homes selling twice as fast on average as we saw last quarter. With interest rates currently at new all-time lows, buyer demand is expected to remain strong and keep prices stable even as banks continue to sell off their inventory of distressed properties.

Click here for the full report and neighborhood-by-neighborhood statistics.

The Eastside

The Eastside housing market fared well in the second quarter of 2012 with a healthy 21% boost in home sales compared to this time last year. While average prices were down slightly from last year, both condo and home prices posted increases over last quarter.

Our record-low interest rates and continued buyer demand are expected to keep home values stable and overcome the downward price pressure we’ve seen from foreclosures and short sales.

Click here for the full report and area-by-area statistics.

Seattle

The Seattle housing market showed strong momentum in the second quarter of 2012, with the number of single-family home sales up 13.6% from this time last year. Condo sales also saw a huge 32% boost in sales compared to Q2 of 2011. Prices remained stable and even increased modestly compared to last quarter.

We are continuing to see a low supply of homes for sale combined with increased buyer demand. With interest rates currently at new all-time lows, buyer demand is expected to remain strong and keep prices stable even as banks continue to sell off their inventory of distressed properties.

Click here for the full report and neighborhood-by-neighborhood statistics.

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