Seattle Housing Market Could Be This Year’s Sleeper

By Alex Girda, Associate Editor Seattle’s booming office market has eclipsed its housing sector in recent months, but the housing market could turn out to be a sleeper. Recent numbers indicate that 2011 is on track to edge last year’s home sales. Although [...]

Seattle’s booming office market has eclipsed its housing sector in recent months, but the housing market could turn out to be a sleeper. Recent numbers indicate that 2011 is on track to edge last year’s home sales.

Although prices have effectively remained flat, home sales volume for August enjoyed a 35 percent jump compared to the same month last year.  According to the Seattle Times, August was the first month since February to top the equivalent sales figures for 2010. The improvement is especially noteworthy considering that last year’s housing market benefited from federal tax incentives.

Even thought the sale of luxury properties has lagged during the recession, the sale of waterfront homes in King County is another intriguing indicator. County records indicate that 63 waterfront properties have traded so far this year—one more than a year ago at this time,  the Seattle Post-Intelligencer reported.