Northeast Seattle’s real estate market flattens approaching Thanksgiving
This Week:
The median list price in Northeast Seattle (zip code 98125) is $449,975 is up from from last week’s $433,000. Inventory has been decreasing lately but the Market Action Index (see below chart) is 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) 48 days up from last week’s (45).
Percent of properties with price decreases 44% down from last week’s 45%.
Supply and demand
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index, we’re in a Seller’s Market. If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
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?
Recently prices in northeast Seattle settled at a plateau even though they increased slightly this week. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
Related posts:
Comments(0)