Seattle's Wallingford real estate market has been moving homes in 2009!
These home stats are for residential single family homes in Wallingford Seattle with sales in the last six months. Wallingford townhome stats are separate and although there are some vessels docked in Lake Union at the South tip of Wallingford, I am not including those in the report. Seattle houseboats are also on separate market reports.
Wallingford real estate: Seattle's wonderful neighborhood of Wallingford has had some action this year! For single family homes in Wallingford, there are currently 28 Active home listings in the MLS as of today. They range in list price form $330,000 for a Wallingford foreclosure to $1,375,000 for Wallingford new construction (mammoth new construction with 7 bedrooms and 5 baths!!!) with this beauty in between: 4333 Wallingford Ave N (my personal Wallingford home favorite!). The average list price is $728,644 and the median list price is $649,475 with an average days on market of 80 days. Wallingford homes are definitely staying on the market longer than in recent years, but as the next stats will show you, Wallingford real estate is selling. The homes selling are being specially prepared for the market so that buyers come in and want them. The only potential hold up is financing at that point.
Pending Wallingford homes sales - this is real estate waiting to close. There are 10 single family Wallingford homes that are pending in the MLS as of this AM. They range in price from $399,000 to $765,000 with an average of $547,830 and a median list price of $499,750 and an average days on market of 33 days.
Wallingford real estate - sold homes in the MLS. These are the Wallingford homes that have sold over the last six months within our NWMLS system. In the last six months there have been 46 single family home residential sales in this wonderful Seattle neighborhood. Remember, this excludes Wallingford townhomes and any vessels. The sales range from $284,900 to $925,000 with an average days on market of 53 days. Total sales volume in the Wallingford neighborhood in the last six months is at $24,330,400. Sales price percentage to List price percentage ranges from 89.82% to 99.23% depending on market time, etc.
So what does this tell us? Wallingford homes are selling. How do the sales over the last six months compare to earlier years in the same period? We are definitely down for the same six months, but not as much as one would expect given the current lending environment. In 2008, for the same six month period total sales volume in Wallingford was $41,941,386 with 65 home sales and in 2007 it was $43,263,455 with 67 home sales. Sales price to list price percentages have also dropped compared to the same period in prior years. For 2008 it ranged from 95.74% to 100.56% with an average days on market of 37 days. In 2007 the range was 95.46% to 101.41% with an average days on market of 29 days. Obviously we are down from previous years, so positioning yourself in the 2009 Wallingford real estat emarket becomes vital.
Selling or Buying in 2009...
Selling your Wallingford home: I can give you seller tips all day long, but the most important thing is to hire a broker who you are comfortable with and who knows your market. Hire someone who can help guide you through the decisions that will make your home stand out on the market. Hire someone with the technological knowledge to compete TODAY and definitely with great social networking skills.
Buying in 2009? Is now a good time for you to buy a Wallingford home? Well rates are certainly at an all time low so the money is cheaper. Prices are down. Sales volume is down so there is more bargaining room. It is pretty much the buyer's market you have been waiting for, but make sure to have your agent really look at the value of the home and try and get you in there as low as possible to guard against any potential short term equity loss. This is easy to do for anyone experienced in negotiating lower prices for their buyers. Don't be afraid to go in lower than might be "socially acceptable". This is a huge investment and there is always risk in investment. So is it a good time to buy? For some. Do you have a job? That helps! Make sure and get in there before the tax credit expires on 11/30 if you qualify. Also ask your agent if they can help you with closing costs or help you get the seller to pay for them. Cash is king - if you can get these things off your plate financially, it is definitely easier up front. Feel free to shoot me over an email if you have any questions.
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This Seattle Real Estate blog written by:
Courtney Cooper, Seattle Realtor, EcoBroker, Designated Broker for Cooper Jacobs Real Estate Services
@CourtneyCooper 206-251-5948 courtney@cooperjacobs.com
Serving Seattle WA neighborhoods & suburbs with care! Search ALL Greater Seattle's MLS listings for FREE no matter who they are listed with: www.cooperjacobs.com
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Jo- I like your signature- that photo of the homes on the hill - looks great! Katerina