Bearish signs for the Roosevelt-Ravenna-Maple Leaf real estate market
This week:
The median list price in Seattle’s Roosevelt-Ravenna neighborhood is $559,975 is down from last week’s $609,000. The Market Action Index (MAI see below chart) has been trending down lately, while days-on-market is climbing, providing mostly bearish signs for the market.
Supply and Demand
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Prices
We continue to see prices in the Roosevelt-Ravenna-Maple Leaf area settle at a plateau. This week prices bumped down a bit but not significantly enough to change the overall outlook. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
| 90-day stats for Single Family properties in SEATTLE, WA 98115 as of September 5, 2014 | |||
|---|---|---|---|
| Median List Price: | $597,285 | Average List Price: | $719,215 |
| Total Inventory: | 47 | Price per Square Foot: | $277 |
| Average Home Size: | 2,257 | Median Lot Size: | 7,376 |
| Average # Beds: | 3.49 | Average # Baths: | 2.16 |
| Homes Absorbed: | 14 | Newly Listed: | 16 |
| Days on Market: | 33 | Average Age: | 63 |
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)
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