Time line chart showing average sold prices in Newcastle WA. Blue line represents closed sales in 2010. Green line represents closed sales in 2011. This year we have seen the market perform monthly opposite of 2010, i.e. average pricing was up in Feb 2011 but lower during the same month in 2010. However, looking at the overall line trend it still appears the area is still showing signs of slightly falling prices over the course of the year. Click the chart to view in detail.
For more weekly articles and information on Newcastle's Real Estate Market "Become a Fan" of my Facebook Page or visit www.NewcastleHomeResource.com. If there's anything else I can do to be of assistance to you or anyone you care about with Real Estate needs, please don't hesitate to call me.
For more weekly articles and information on Newcastle's Real Estate Market "Become a Fan" of my Facebook Page or visit www.NewcastleHomeResource.com. If there's anything else I can do to be of assistance to you or anyone you care about with Real Estate needs, please don't hesitate to call me.
For more weekly articles and information on Newcastle's Real Estate Market "Become a Fan" of my Facebook Page or visit www.NewcastleHomeResource.com. If there's anything else I can do to be of assistance to you or anyone you care about with Real Estate needs, please don't hesitate to call me.
There is an upside to investing in a tired, old space: you get to create the room of your dreams. That was the case for Jeff Schlarb, principal designer at San Francisco–based Green Couch Interior Design Inc., and his wife, Tray, an interior designer for the firm. They bought a 1925 Mediterranean-style house in San Francisco with the intention of renovating every square inch, and, although the design duo did an outstanding job of revamping the entire residence, the kitchen conversion is nothing short of incredible. Click the article to continue.
For more weekly articles and information on Newcastle's Real Estate Market "Become a Fan" of my Facebook Page or visit www.NewcastleHomeResource.com. If there's anything else I can do to be of assistance to you or anyone you care about with Real Estate needs, please don't hesitate to call me.
[Click Graph to Enlarge] Above: Green Line represents 2011 Avg. Sold Prices. Blue Line represents 2010 Avg. Sold Prices. We started the year below last years Average selling price for the month of Jan. We jumped up in Feb due to slow market activity where two of those six sales were Luxury Homes sold for above 1 million. March put us back closer to Jan 2011 Avg. Sales price. In July, There were a total of 3 large Luxury Homes sold which pushed the overall avg sold price for the area very high. Without these Luxury Sales the avg. sold price for July 2011 is $655,440. While sold prices has gone up for the month of July (due to peak summer season and more Luxury Home Sales), we still believe the market as a whole is still on a downward trend.
As I had predicted back in July, home values have continued to decline. Volume is up, homes are selling in today's market and the good news for buyers is there is still opportunities to purchase a home a lower values and good interest rates. On the flip side for sellers, if you've been wanting to upgrade to a bigger home, today you can purchase that home at a discount even if you sell your current home for less in today's market. I still believe pricing will continue to see lower sales prices through the rest of the year.
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