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Washington State Real Estate Value Down 46%(?) From Peak

February 20th, 2009 · 1 Comment · Overdevelopment

Check out the latest PDF from the Washington State Department of Revenue. It presents the State Economic & Revenue Outlook
“Early Guidance” for the March 2009 Official Forecast. Note page 15. Main chart below.

Value per transaction currently looks to be around $150,000. At peak (mid 2007) the figure was closer to $290,000. That’s a 46% drop by my reckoning. The last time we saw numbers this low was early 2004.

Seattle Bubble is showing King County as doing much better than this. According to a recent chart, KC is down by about 14%, which takes us back to about 2006.

Now I just wish they’d give us some data about gas tax revenues…


1 response so far ↓

  • 1 Peter // Feb 20, 2009 at 11:29 pm

    When my property tax assessment comes it better be 46% lower than last year.

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