Could this house be a sign of an improving market? Back in June 2009 it was listed for $625,000 and sold for $630,000. It was listed again this week on Monday (July 25th) for $697,000 and the status was changed to pending just one day later. Do you think it sold for more then the asking price? My answer would be, yes.
We can’t make assumptions about an entire market on just a handful of sales, but this story is consistent with many homes around the Seattle area. As demand increases in the Seattle market we’ll see continued stabilization and eventually a steady in increase in pricing (albeit small). I don’t use this example to sway any of your opinions about the market, but one cannot argue that sales like these are a sign of an improving market.