This Week:
The median list price in northwest Seattle is $1.996,500 up from last week’s $1,085,000. Inventory has been lightening lately and the Market Action Index (see below MAI chart) has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Average days-on-market (106 days) up from last week’s (216 days), asking price per square foot $442 median house size 4235 (sq ft).
Supply and Demand
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
The market for northwest Seattle continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index to predict how long this trend will last.
Localized real estate market reports are great for getting a “feel” of what that specific market is doing.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 sales. With all of the current news regarding the real estate market in the Puget Sound area it is still a market filled with some headwinds and uncertainties.
Home sellers must continue to look at all the above factors when evaluating offers on their property. The above graphs for the Northwest Seattle real estate market will show recent trends on a micro level in Northwest Seattle that will in a large part reflect the prices buyers and sellers are willing to pay and receive for real estate in the area.Northwest Seattle home and lifestyle search.
LIVING IN NORTHWEST SEATTLE
The Northwest corner of Seattle has some of the very best views of Puget Sound and the Olympic Mountains and amazing sunsets. Homes listed for sale in four communities within the 98177 zip code are Blue Ridge, Broadview, and the The Highlands, Innis Arden and Richmond Beach.
Physically the Northwest Seattle region looks lake a destination area, with it’s western border being Puget Sound these neighborhoods with the Northwest region take-on a destination feel to them. Which lends itself to the attractiveness and popularity of this region in Seattle. The northwest area is filled with public parks that are great for day hiking, picnics and field trips for the kids. Receive
FREE WEEKLY UPDATES on the latest Northwest Seattle real estate market
trends e-mailed to you weekly. Sign up here.
Northwest Seattle median prices vs. all of Seattle
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
Comments(3)