Northeast Seattle’s real estate market starting to heat-up (again)
This Week:
The median list price in Northeast Seattle (zip code 98125) is $557,540 up from last week’s $492,500.Inventory is tightening and days-on-market is falling. The Market Action Index (see MAI chart below) shows demand heating up. These are relatively bullish signs for prices. Check in next week to see how the housing market in northeast Seattle is shaping up.
Average days-on-market (DOM) 30 days down from last week’s (33).
Percent of properties with price decreases 25% up from last week’s 22%.
Is it a good time to sell my home?
Inventory levels in northeast Seattle at or near all time lows. The key to maximizing your listing price is in the preparation and pricing. For listing tips click here.
Supply and demand
While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We’re currently in a Seller’s market so prices will likely resume their climb should this trend persist.
Looking to buy or sell contact Adrian Willanger for a more detailed market analysis.
| 90-day stats for Single Family properties in SEATTLE, WA 98125 as of October 3, 2014 | |||
|---|---|---|---|
| Median List Price: | $489,827 | Average List Price: | $573,630 |
| Total Inventory: | 52 | Price per Square Foot: | $246 |
| Average Home Size: | 2,146 | Median Lot Size: | 11,404 |
| Average # Beds: | 3.49 | Average # Baths: | 2.23 |
| Homes Absorbed: | 10 | Newly Listed: | 12 |
| Days on Market: | 45 | Average Age: | 53 |
How does this influence prices?
In the last few weeks we’ve seen prices in the Victory Heights area bouncing around these current levels. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
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