The conversation about real estate right now centers around the term “pre-recession” price. Are home values back to the values before the market meltdown of 2008?
There are rumors that select neighborhoods in Seattle have broken through the pre-recession barrier. But it may take another 1.3 years for Seattle to completely shed it’s post-recession blues. Which is not bad considering many states have a long future ahead with post recession home values. http://www.bizjournals.com/seattle/morning_call/2014/07/seattle-home-values-bucking-national-trend.html.
On the spectrum of pre-post recession home values where does Woodinville’s wine country fall? Hollywood Hill, the premier wine country neighborhood, is behaving much like a Seattle neighborhood with limited inventory, short market time and pricey homes. But the numbers show the true market story. The story is a good one but the hard data shows that Hollywood Hill has not yet reached pre-recession home values. It is off by about 11% from the market of 2008. Check out the graph below:
**data sourced from NWMLS