Mostly bearish signs for Roosevelt-Ravenna-Maple Leaf real estate market

By
Managing Real Estate Broker with 206 909-7536 AdrianWillanger-broker.com 17900

Mostly bearish signs for  Roosevelt-Ravenna-Maple Leaf real estate market

This week:

The median list price in Seattle’s Roosevelt-Ravenna Maple Leaf neighborhoods is $648000  down from last week’s $695,000. The Market Action Index (see MAI chart below) has been trending down lately, while days-on-market is climbing, providing mostly bearish signs for the market.

 

Supply and Demand

The market has been cooling over time and prices plateaued for a while.   Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes it’s climb, prices will likely follow suit.  If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices. In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory.

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.    

 

Prices

Prices in this the Maple Leaf-Ravenna-Roosevelt area 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.

 

90-day stats for Single Family properties in
SEATTLE, WA 98115 as of September 19, 2014
Median List Price: $584,937 Average List Price: $712,998
Total Inventory: 51 Price per Square Foot: $277
Average Home Size: 2,225 Median Lot Size: 9,673
Average # Beds: 3.51 Average # Baths: 2.15
Homes Absorbed: 14 Newly Listed: 16
Days on Market: 34 Average Age: 64

Living in the Roosevelt-Ravenna Maple Leaf neighborhood
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 Maple Leaf neighborhood

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)

 

 

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Adrian specializes in green home marketing utilizing traditional and social media marketing to create the widest exposure of your property.

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