I spend a few hours a day going over market data for the local Puget Sound area. Usually I pick a city and do some research that includes the median sales price, market time and how many homes sold either for a month or for a 2, 3 or 5 year period. Today, I thought I would research an area where I started my real estate career. I chose to do the research by zip-code. I started selling real estate in 1994 in the Kent/Covington area of South Puget Sound. I lived in Covington Park and later Winterwood Estates. Anyway, I have decided to sell in that area again so I have been doing a lot of research and home pre-viewing.
My first thought was “has the market bottomed out in Kent/Covington area?“. As I did some research I came across a few blurbs from my internet search for news articles. Fun always to look back and see what we thought in years like 2009.
The words I put in my browser were “have we hit bottom in the real estate market” You can look at the list that showed up on my Google Search at the end of the article.
So now for the Zip Code of 98042 – here is the map of the area. There are currently 253 homes on the market in zip code 98042
Next lets look at some market data visually. Here is the graph for Median Sales Price for the past 7 years of homes, town-homes and condominiums – of course 2011 will be adjusted on December 31, 2011. I have no crystal ball but I think the bottom is here. To help make that decision I think I will break down the year of 2011 next. Looking at the data by month might give us an even more idea.
Aug 22, 2009 – Housing prices may not have hit bottom, but they’ve come close enough to lure some into market. The “natural bottom” for housing prices would …
Apr 22, 2011 – When will we hit bottom in the housing market? … Vigeland: Then does the fact that the housing bust seems to have now hit all over the country, …
www.housingwire.com › Servicing/Default
Sep 30, 2011 – The U.S. housing market will hit bottom this year and remain flat until 2014, … “
We‘re looking at a catfish recovery,” he told attendees at the Asian Real … More than a million foreclosure actions that should have taken place this …