67.7% of Lake Forest Park’s closed sales in May at or over list price
The median List prices for the Lake Forest Park/Sheridan Beach area is $375,000 is unchanged from last week’s $375,000. Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index (MAI see below graph) implies some increased demand will temper the negative trends. Stop by next week to see how the housing market in Lake Forest Park is trending.
The Lake Forest Park/Sheridan Beach area registered 36 closed sales in March 2013 compared 27 for the same month a year earlier, April 2013 registered 33 closed sales. May 2013 had 31 closed sales, 67.7% of the sales came in at list price or higher. 9 of the 31 closed sales were cash offers. A sign that buyers were pulling out all stops to remove financing contingencies in a very competitive buying Lake Forest Park marketplace.
It will be interesting to see if the home sales trend in Lake Forest Park, which averaged 31 sales per month in 2012, will continue into 2013. Stay updated on the latest real estate trends in Lake Forest Park and Sheridan Beach. Sign-up and have market report e-mailed to you weekly or monthly absolutely FREE? Subscribe today, for any additional information regarding the real estate market contact Adrian Willanger.
Supply and Demand
The Lake Forest Park-Sheridan Beach real estate market in the last few weeks has achieved relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb. Get the full report.
Price
The market in Lake Forest Park/Sheridan Beach area saw relatively little price change from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks.
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New listing within the last 7 days
New bank owned and short sales within the last 7 days
Pending sales within the last 7 days Upcoming open houses
Percent of properties with price decreases 21% up 1%
Average days on market (DOM) 80 down from 94
Related posts:
- Lake Forest Park/Sheridan Beach median list prices up (26)
- Lake Forest Park-Sheridan Beach home sales outstripping supply (24.7)
- Lake Forest Park-Sheridan real estate demand is up (24.2)
- Lake Forest Park-Sheridan Beach’s real estate is tempered by buyer demand (24.2)
- Lake Forest Park-Sheridan Beach real estate median list prices UP slightly (24.1)
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