Demand for Roosevelt-Ravenna-Maple Leaf real estate falling
This week:
The median list price in Seattle’s Roosevelt-Ravenna neighborhood is $599,500 is up from last week’s $594,925. Inventory has been decreasing lately but the (see MAI chart below) is falling also. With days-on-market is climbing, these are relatively negative implications for the market.
Supply and Demand
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. 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.
Prices
Prices the Roosevelt-Ravenna-Maple Leaf seem to have settled around a plateau. 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 19, 2014 | |||
|---|---|---|---|
| Median List Price: | $584,937 | Average List Price: | $712,998 |
| Total Inventory: | 51 | Price per Square Foot: | $277 |
| Average Home Size: | 2,225 | Median Lot Size: | 9,673 |
| Average # Beds: | 3.51 | Average # Baths: | 2.15 |
| Homes Absorbed: | 14 | Newly Listed: | 16 |
| Days on Market: | 34 | Average Age: | 64 |
Living in the Roosevelt-Ravenna Maple Leaf neighborhood
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 Maple Leaf neighborhood
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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