The numbers in Seattle are continuing an upward trend and a downward trend, depending on what you're looking for. Prices for the latest reporting period are up across the board. Four bedroom homes, for instance, have edged upward compared to year-over-year numbers from the second quarter 2007 by more than $5,000 -- and are up 11 percent when compared to the first quarter of 2008.

Pricing, however, only tells one part of the story, but for Seattle, it may be signaling the end of a buyers market and transitioning into a normal market where both buyers and sellers can compete equally in real estate transactions. The price increase may be a pause in a buyers market or a transition to a normal, stabilized market, according to Seattle market watchers.

Broker and blogger Ardell DellaLoggia of Sound Realty, reads the home sales statistics like a stock broker reads the daily Wall Street returns. Her latest report points out that "while volume is clearly drastically reduced, it is not dropping out from under us. It basically dropped once and then stabilized. That's good news."

Meanwhile, the price leveling represents buyers opting for larger homes for less money, however, it shows the market is shifting yet again for buyers willing to get off the fence. As buyers see more opportunity to get more house for their money, DellaLoggia points out the buyers will only do this for a while -- that is, purchasing for the long term, saying, "It's one of the stages of a turning market."

Published: July 25, 2008

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