Roosevelt-Ravenna-Maple Leaf’s real estate inventory levels growing

Roosevelt-Ravenna-Maple Leaf’s real estate inventory levels growing

This week:

The median list price in Seattle’s Roosevelt-Ravenna neighborhood is $585,000 is down  from last week’s $587,000.  Inventory has been decreasing lately but the  Market Action Index (MAI see below chart) is falling also.  With-days-on-market climbing, these are relatively negative implications for the market.

Supply and Demand

The market has been cooling over time and prices plateaued for a while.  Despite the consistent decrease in Market Action Index (MAI), we’re still in a Seller’s zone. 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.                                                  

Prices

Prices in the Roosevelt-Revenna-Maple Leaf area have seem to have settled around a plateau.  Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels. 

Roosevelt is a neighborhood in north Seattle, Washington. Its main thoroughfare, originally 10th Avenue, was renamed Roosevelt Way upon Theodore Roosevelt’s death in 1919. The neighborhood received his name as the result of a Community Club contest held eight years later, in 1927.   Living in the Roosevelt-Ravenna neighborhoodWhat’s my home in Roosevelt-Ravenna worth?

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 properties that have sold recently in your neighborhood for a detailed report contact Adrian Willanger @ 206 909-7536. Or fill out our online form below and have a market report emailed to you.  

Comparing listing prices in the Ravenna/Roosevelt (zip code 98115) to Northeast Seattle (zip code 98125)