SEATTLE REAL ESTATE AND NEIGHBORHOOD GUIDE
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After a slow first couple weekks in 2007, the Seattle real estate market has heated up all over Puget Sound. Since the beginning of the year (through 3/1/07) a total of 869 single family homes have closed in the City of Seattle with an average market time of 50 days from list date to closing.
The median price of a stand-alone house in Seattle in February 2007 was $460,000. A typical town home in Seattle sells for $390,000, about $70,000 less than a stand-alone home. Seattle housing prices rose in February 2007h, jumping nearly 15 percent from February 2006, reflecting that unlike the rest of the country Seattle is a stong sellers market. Amazon, Boeing and Microsoft continue to drive jobs growth fueling the real estate expansion in Seattle.
There's growing strength in Seattle's economy. King County's number of jobs has nearly returned to pre-recession numbers after 70,000 jobs were lost from 2001-2004. The Emerald City remains a beautiful and stimulating place, alive with growth, energy and ideas. Seattle enjoys a thriving, music, literary, movie, arts and club scene; world-class restaurants; acclaimed symphony, opera, ballet and theater companies; exciting, professional sports teams; vibrant music and cultural festivals; and great outdoor adventures for hiking, biking, boating, skiing and fishing. The inevitable result: more growth, more traffic and strained housing affordability.
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