Northeast Seattle’s real estate list prices up, some weakening trends may weaken the market
This Week:
The median list price in Northeast Seattle (zip code 98125) is $499,000 up from last week’s $485,000. The Market Action Index (see MAI chart below) has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market. Check in next week to see how the housing market in northeast Seattle is shaping up.
Average days-on-market (DOM) 32 days up from last week’s (25).
Percent of properties with price decreases 21% up from last week’s 19%.
Is it a good time to sell my home?
Inventory levels in northeast Seattle at or near all time lows. The key to maximizing your listing price is in the preparation and pricing. For listing tips click here.
Supply and demand
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
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?
We continue to see prices in the Victory Heights neighborhood hovering around these current levels, even though they bumped up a bit this week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.
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