Northeast Seattle’s real estate market remains mixed heading into July

 Northeast Seattle’s real estate market remains mixed heading into July

This Week:

The median list price in Northeast Seattle (zip code 98125) is $537,000 is down  from  from  mid-May’s $539,475.   Inventory is tightening and days-on-market is falling.  But demand measured by the  Market  Action Index (see below MAI chart) is also trending down.  The market is not giving up or down signals from these data points.

Real estate buyers and sellers need to understand the local market climate before jumping into the market and understand the real estate market is very dynamic.  Check in  next week to see how the  housing market in northeast Seattle  is shaping up.

Average days-on-market (DOM) 45 days down from last week’s (53)

Percent of properties with price decreases 33% down from last week’s 34%.                                                                   

                                                                                         Supply and demand

In the last few weeks the  Northeast Seattle real estate market has not has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI.  If the market heats up, prices are likely to resume an upward climb. 

Looking to buy or sell contact Adrian Willanger for a more detailed market analysis. 

How does this influence prices? 

In Northeast Seattle in the last few weeks we’ve seen prices bouncing around this plateau.  Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

Broker’s note; “over the last several weeks we’ve seen homes come on the market in northeast Seattle and within a very short period of time receive multiple offers.”  To stay updated sign up to have FREE WEEKLY UPDATES on the latest northeast Seattle real estate market activity e-mailed to you weekly.

Many homeowners are asking the same question, “has the value of our home increased to the point we can sell it?”  Fill out our form and find out for FREE.

Living in Northeast Seattle’s Victory Heights neighborhood

Located in Seattle ½ mile east of the Northgate Mall sits a small wooded community named Victory Heights. A nice combination of bungalows and wood tudors built between 1920 & 1940s . Residents of Victory Heights have a multitude of place to shop, from 100+ stores at Northgate Mall to big box discount stores and specialty stores just a short drive to University Village.

Victory Heights is very well connected with four arterial to choose form as well as being well service with public transportation.  close to shopping, I-5, University of Washington and 10 minutes to downtown Seattle.

Residents of Victory Heights love living in an area that is filled with walkers of all ages and surrounded by evergreen trees and just minutes to job and business centers  close to parks, schools, hospitals,restaurants , and a wide range of banks and credit unions to choose from with an overall walking score of 72.

Home prices in Victory Heights are coming off a 12 month low and have started a steady upward price tend since mid-May 2012. Current inventory of homes for sale in Victory Heights.