Hello Everyone,


May has really been a great month for RealEstate in the Montlake area.  Here are some stats that sum up the last couple of months and what we can look forward to (perhaps) over the summer...:


   * There are currenly 94 ACTIVE listings within 1 mile of this home in Montlake
   * There have been 36 SOLD homes since January 26 2008
   * Within 1 mile of this Montlake home there are 30 active listings for 4 bedroom homes with an average asking price of $1,261,603
   * Since January 26 2008 of this home 22 4 bedroom homes have sold for an average of $1,161,421

Why doesn't this home on E McGraw st cost over a million dollars?  Perhaps part of the answer is that in Montlake the average square foot size for the 4 bedroom homes has been 2758 for the solds, and 3308 for the active listings.


This home is a 'smaller' 4 bedroom with just 2170 sq ft per King County Records.  Perhaps we should compare apples to apples and look at the average sized 3 bedroom home for sale and sold in the Montlake area within 1 mile of this home.

   * Currently there are 31 three bedroom homes available at an average asking price of $903,434 and avg sq ft of 2372
   * Since January 26 2008 within one mile of this Montlake Home, 22 three bedroom homes have SOLD, with avg price of $725,848 and sq ft avg of 2146.
   * Current 'selliing' times since January 26th have been 52 days.  The homes that are currently on the market or NOT Sold hae been on for an avg of 89 days!

SO, what does this tell us about how the home at 1616 E McGraw compares to SOLD and NOT SOLD homes within one mile of it?

   * This Montlake home is a GREAT VALUE for a 4 bedroom home!
   * MOST three bedroom homes in the area that are currently available seem to be OVERPRICED because the current market time averages 89 days and the asking price averages $903,434
   * This Montlake home is VERY COMPETITIVELY PRICED with area 3 bedroom SOLD homes.  This home has been on the market just over 50 days (the same as average 3 bedroom sold selling times) and it is priced just a hair over the average three bedroom sold price of $725,848

Location Location Location!!!!  Bottom and Last line here is that for the money, this home is an EXCELLENT opportunity in this area!!!

JOSEPH R HILL
Imagine Properties nw
Call:      206.734.4741
Write:    josephrhill@gmail.com
Visit:    www.imaginepropertiesnw.com

...Live the Life You Imagine...