Sales up but median prices still slip due to Short Sales and Foreclosures in the west according to the Seattle Times.

This is a trend that I believe will come to an end shortly, especially in Seattle. With sales up, which is being driven by First-Time Buyers, good interest rates and low prices, the less expensive properties will get purchased and allow those home owners to move up to the next price point of homes. The hardest hit areas in the west (Las Vegas, Phoenix, San Diego) are showing much higher sales than a year ago.

I'm working with a client looking for a good town home in Ballard and yesterday we saw 2 he really like, both of which had at least one offer on them the night before. Town homes under $450k northwest of Market are flying off the shelves. There is definitely something in the air. Click here to see the entire Seattle Times article on the increase of home sales in the west.