Northeast Seattle’s real estate market-times increasing
This Week:
The median list price in Northeast Seattle (zip code 98125) is $634,000 up from last week’s $565,000. Inventory is lightening but the Market Action Index (see MAI chart below) falling also. With days-on-market climbing, these are relatively negative implications for the market. Check in next week to see how the housing market in northeast Seattle is shaping up.
Average days-on-market (DOM) 38 days up from last week’s 61 days.
Percent of properties with price decreases 31% up from last week’s 35%.
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
Market conditions have been consistently coooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls into the Buyer’s zone.
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?
Price trends in the Victory Heights area continue their recent uptrend this week. While still below the market’s high point, we’ve seen a nice run recently.
Comments (1)Subscribe to CommentsComment