How Much Have Homes Appreciated in the Seattle/Eastside Neighborhoods Since 1990?
We are lucky to be in Seattle! Our area continues to defy the national real estate market trends. Here is a bit about what has happened since 1990:
Homes appreciated every year, except two:
1992 – prices stayed the same.
2001 – prices declined a bit ( remember 9/11) – 2%
Top five years with the highest appreciation:
1998 – 21%
1997 – 18%
2005 – 17%
1999 – 14%
2006 – 13%
Inventory was much higher in the 1990’s than in the 2000’s.
It was not uncommon for much of the early 90’s to have 7000-9000+ properties for sale.
August, 1991 – 9546 homes were available
May, 2007 – 3584 homes are available, 2/3 less homes are available today
Even though we are at the highest amount of properties on the market since 2004 with 3500 properties available, our inventory levels are nothing like the 1990’s!
Hang on through the rest of this decade. We still have a lot of growth to come. The job market is still very strong and available land for new construction is limited. Expect appreciation to continue throughout the rest of the decade.
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