Prices for Roosevelt-Ravenna-Maple Leaf’s real estate reaching all-time high
This week:
The median list price in Seattle’s Roosevelt-Ravenna neighborhood is $695,000 is up from last week’s $645,000. The Market Action Index (MAI see below chart) has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
Supply and Demand
The Roosevelt-Ravenna-Maple Leaf real estate market appears to have begun to cool. As We’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Prices
Prices in the Roosevelt-Ravenna-Maple Leaf area hit another all time high this week. You can see that prices continue to march higher. Look for a persistent downtrend in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength finally abating.
| Median List Price: | $600,977 | Average List Price: | $682,208 |
| Total Inventory: | 39 | Price per Square Foot: | $282 |
| Average Home Size: | 2,263 | Median Lot Size: | 5,735 |
| Average # Beds: | 3.34 | Average # Baths: | 2.11 |
| Homes Absorbed: | 14 | Newly Listed: | 14 |
| Days on Market: | 36 | Average Age: | 62 |
Roosevelt is a neighborhood in north Seattle, Washington. Its main thoroughfare, originally 10th Avenue, was renamed Roosevelt Way upon Theodore Roosevelt’s death in 1919. The neighborhood received his name as the result of a Community Club contest held eight years later, in 1927. Living in the Roosevelt-Ravenna neighborhood
What’s my home in Roosevelt-Ravenna worth?
Localized real estate market reports are great for getting a “feel” of what that specific market is doing. For a more accurate pricing on residential property a Competitive Market Analysis (CMA) needs to be done comparing your home with current properties that have sold recently in your neighborhood for a detailed report contact Adrian Willanger @ 206 909-7536. Or fill out our online form below and have a market report emailed to you.
Comparing listing prices in the Ravenna/Roosevelt (zip code 98115) to Northeast Seattle (zip code 98125)
Related posts:
Comments(1)