Improving demand curve could give Columbia City real estate a boost
This Week:
The median list price this week in the Columbia City neighborhood is $449,000 up from last week’s $448,000. Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index (see MAI chart below) implies some increased demand will temper the negative trends.
Percent of properties with price decreases: 27% down from last week’s 25%.
Average days-on-market: 61 days up from last week’s 60 days.
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.
What’s currently for sale in the Columbia City neighborhood.
Price
While the median price in the Columbia City area hasn’t moved much in the last few weeks, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
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.
Living in Columbia City
Columbia City is a very eclectic neighborhood that is embraced by its residences and the businesses that have located there. The business area is filled with galleries, boutiques and a host of dining and entertaining options that fill the neighborhood with color and local flair.
Columbia City has its own unique flavor which can be seen in such events like the Dead Celebrity Custom Party or a special Valentine Day event “Dancing off the Ceiling: The music of Chet Baker” are common place in Columbia City.
A large number of residences in Columbia City are not dependent on large corporations for employment but rather choose careers in the “hidden tech” fields. Home based businesses, entrepreneurs that are well connected to the information economy as investors, graphic artists, freelance writers, architects, telecommuters, software consultants, and other higher paying professions.
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