Northeast Seattle’s real estate prices spike up this week

  Northeast Seattle’s real estate prices spike up this week

This Week:

The median list price in Northeast Seattle (zip code 98125) is $449,950 is up from  from  last week’s $407,000.  Inventory is tightening and days-on-market is falling.  But demand as measured by the Market Action Index (see MAI chart below) is also trending down.  The market is not giving strong up or down signals form this data. . .  . .  .  . . Check in  next week to see how the  housing market in northeast Seattle  is shaping up.

Average days-on-market (DOM) 45 days down from last week’s (55).

Percent of properties with price decreases 20% down from last week’s 38%.                                                                                                                                                  

                                                                                   Supply and demand

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks.  This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

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

How does this influence prices? 

We continue to see prices in and around the Victory Heights neighborhood bouncing around this plateau.  Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.