Over the past few months, I’ve been working with various clients who are looking to buy a townhome in Seattle priced under $450K. While the beginning of ’09 showed a glut of inventory of townhomes, the end of ’09 had a substantial decline in what’s available. Here’s a quick summary of the activity (areas: West Seattle, Greenlake, Wallingford, Ballard, Queen Anne, Magnolia, Capitol Hill, Beacon Hill, Central Area, Mt. Baker, Seward Park, Columbia City):
- January 1 – June 30, 2009
*337 townhomes sold
*Average Sales price: $340K - July 1 – December 31, 2009
*443 townhomes sold
*Average Sales price: $332K
Interestingly, 32% of the sales in the second half of this year occurred between 11/1 – 12/31. Clearly, the tax credit had a significant impact on sales as the original credit was set to expire November 30th. However, December is has been a busy month, as inventory is low compared to earlier in ’09. I’ve certainly experienced this with my clients. As we’ve looked at townhomes over the past few weeks, many have been snatched up by other buyers.
So, if you are looking for a townhome priced under $450K, you may find that you’ll need to move more quickly to get the one that you want. But, the good news is that builders are still offering closing costs to help you make your purchase affordable.
Here are a few of my favorites priced under $450K:
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