Single Family Houses:
North Seattle prices have been stabilizing for a good year now. Pricing right can get you a house sold in 5 days or less. June's sold prices are up from July and December of 2009 and ever so slightly down from this May.
North Seattle had 249 closings in June. That is 3% less than May. This is the third highest number in the past year (253 in July 2009 and 256 in May 2010) and a great sign!
Along with the average days on market in June being 23, it shows that these sales are not left overs from the extended tax credit closing date.
At the end of June there were 26 bank owned properties on the North Seattle market which is roughly 3% of the total inventory. Sales on bank owned properties have consistently been selling at market price in all of King County. Low ball offers are not even responded to.
At the end of June, the North Seattle inventory was 805; 3.23 months of supply. This is normally considered a buyers market. With the current economy it is acting as a balanced market. There is room for some negotiating on both sides.
Townhouses:
I like to breakout the townhouse stats as well: These prices have definitely stabilized over this year. June's prices were at their highest for the past 12 months.
47 closed sales for the month of July fell within the consistent range of 40 - 55 sales per month in the last 12 months.
Statistics in this post are not complied, posted or verified by the Northwest Multiple Listing Service.
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