Market News

Is Queen Anne Hill’s Housing Market Recovering Faster Than the Rest of Seattle

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Case-Shiller

This is perhaps the biggest question home sellers and particularly developers are looking at as a signal to putting their house(s) back into a declining Seattle real estate market.

The above chart, Case-Shiller Price Cumulative Decline ranking, shows the twenty largest real estate markets in the United States, Seattle ranks eleventh with an accumulative decline of 29% from December 2007 to February 2011.

The below chart compares the two Queen Anne Hill zip codes 98119 and 98109 to the rest of Seattle, the median sales price in the two Queen Anne Hill zip codes showed showing upward price trending in January 2011 for 98109 and a few months later for 98119, both have continued trending upward with inventory levels coming down.

Developer-builder Martha Rose, president of Martha Rose Construction, Inc. in Seattle Washington has been watching the real estate building market for the last 18 months trying to figure out when is the best time to jump back in. In April of 2011 she closed on a parcel of land on the northwest corner of Queen Anne Hill. This will be site for City Cabins on Queen Anne Hill, two hi-performance view homes built utilizing hi-tech building methods and Passivhaus type efficiency components. They should be the most energy-efficient homes her company has built.

City Cabins are due to be completed in October-November of 2011 and are now available for presale. You can more information by contacting Adrian Willanger 206 909-7536