Realogics Urbnlivn Presentation
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A PRESENTATION ON IN-CITY HOUSING MARKET CONDITIONS (FOR SALE /
RENTAL)
Special thanks to:
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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 -
500
1,000
A DEVELOPMENT CYCLE UNLIKE ANY OTHER…what’s next?
?
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NWMLS AREA 701 – DOWNTOWN SEATTLE
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CASE SHILLER HOME PRICE INDEX
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CASE SHILLER HOME PRICE INDEX
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NWMLS AREA 701 – DOWNTOWN SEATTLE
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NWMLS AREA 701 – DOWNTOWN SEATTLE
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NWMLS AREA 701 – DOWNTOWN SEATTLE
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NWMLS AREA 701 – DOWNTOWN SEATTLE
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NWMLS AREA 701 – DOWNTOWN SEATTLE
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NWMLS AREA 701 – DOWNTOWN SEATTLE
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NWMLS AREA 701 – DOWNTOWN SEATTLE
Here are the most notable trends for NWMLS Area #701 (downtown Seattle) condominiums:
•MEDIAN HOME PRICES IN 2011 UP 5% •TOTAL SALES IN 2011 $1 MILLION+ UP 20% •TOTAL SALES VOLUMES IN 2011 UP 4% •CLOSED SALES TRENDS* UP 10% •TOTAL ACTIVE INVENTORY* DOWN 36% •NEW LISTING TRENDS* DOWN 51%•TOTAL NEW CONDO DELIVERIES ZERO
*Trends compare trailing 120 days compared with previous year
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POSITIVE MARKET FUNDAMENTALS ATTRACTING ATTENTION
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BUY OR RENT?
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BUY OR RENT?
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BUY OR RENT?
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BUY OR RENT?
King County homes reach record affordability
Sales of existing homes in the fourth quarter were up by a seasonally adjusted 6.5 percent from the third quarter and 10.6 percent from a year earlier, according to a report that the Runstad Center for Real Estate Studies at the University of Washington released Thursday. But the median price, $320,000, was down 13.5 percent from a year earlier.
Also Thursday, the Seattle-based real estate website Zillow reported that the typical home in King, Pierce and Snohomish counties was worth $250,900 in December, down 0.6 percent from November and 8.5 percent from a year earlier. The typical Seattle home was worth $348,200, down 1.4 percent from November and 4.4 percent from December 2011.
By AUBREY COHEN, SEATTLEPI.COM STAFFThursday, February 9, 2012
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THE NEXT DEVELOPMENT CYCLE - ALL APARTMENTS IN PIPELINE
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APARTMENT RENT TRENDS – CENTRAL KING COUNTY
Survey Date
Market Vacancy %
Average Rent
% Offering Incentives
Rent Increase Planned
9/1/2011 3.50% $1,255 6.10% 3.60%3/1/2011 3.60% $1,192 14.10% 2.60%9/1/2010 3.60% $1,180 23.60% 1.90%3/1/2010 5.00% $1,151 54.90% -0.80%9/1/2009 5.60% $1,177 52.30% -0.80%3/1/2009 6.40% $1,190 43.20% -1.90%9/1/2008 3.50% $1,230 7.30% 3.20%3/1/2008 3.70% $1,173 7.70% 3.60%9/1/2007 3.40% $1,169 2.70% 4.00%3/1/2007 3.20% $1,084 2.50% 4.40%9/1/2006 3.30% $1,042 3.30% 4.40%3/1/2006 4.00% $1,004 9.00% 3.50%9/1/2005 4.00% $984 22.60% 2.40%3/1/2005 5.30% $987 44.20% 1.60%9/1/2004 5.40% $973 47.80% 1.20%3/1/2004 6.70% $969 57.10% 0.80%9/1/2003 6.80% $993 57.50% 0.50%3/1/2003 7.40% $965 69.50% 0.10%9/1/2002 7.00% $955 56.90% 0.60%3/1/2002 8.10% $962 54.90% 0.40%9/1/2001 5.30% $1,006 20.70% 1.30%Averages 5.00% n/ a 31.30% 1.70%
Rental Market Trends for King-Central
© Copyright 2012 by Dupre + Scott Apartment Advisors, Inc.
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APARTMENT RENT TRENDS – CENTRAL KING COUNTY
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QUESTIONS?
Special thanks to:
Information was obtained from sources deemed reliable but cannot be guaranteed. Viewers are encouraged to perform independent due-diligence before relying on any information contained in this presentation. Presenters are expressing individual
opinions only. E&OE.