Northeast Seattle’s real estate market displaying mostly bearish signs

Northeast Seattle’s real estate market displaying mostly bearish signs

This Week:

The median list price in Northeast Seattle (zip code 98125) is $474,750 is up from  from  last week’s $472,250.   The Market Action Index (see below chart) has been trending down lately, while days-on-market is climbing, providing mostly bearish signs for the market. Check in  next week to see how the  housing market in northeast Seattle  is shaping up.

Average days-on-market (DOM) 42 days up from last week’s (41).

Percent of properties with price decreases 45% up from last week’s 42%.                                                    

                                                    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.  Watch for changes in MAI.  If the MAI resumes it’s climb, prices will likely follow suit.  If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Looking to buy or sell  contact Adrian Willanger for a more detailed market analysis. 

How does this influence prices? 

In the last few weeks we’ve seen prices in  in  northeast Seattle bouncing around this plateau.   Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.