Columbia City’s real estate market remains a bit of a Seller’s market

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

 

 

 

                                                Columbia City’s real estate market remains a bit of a Seller’s market 

This Week:

 
The median list price this week in the Columbia City neighborhood  is $448,000 down from last week’s $450,000. With inventory and days-on-market basically unchanged and the Market Action Index (see MAI chart below) is decreasing, the market is not sending strong directional signal for the near-term outlook.
 
 
 
 
Percent of properties with price decreases: 28%  unchanged  from last week’s 28%.
 
Average days-on-market: 63 days down  from last week’s 55 days.
 
 
 
 

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

The market has  been cooling over time and prices have recently flattened.  Despite the consistent decrease in Market Action Index (MAI) 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.
 
 
  What’s  currently for sale in the Columbia City  neighborhood.
 
 
   
 
Price
 
While the median price in  the Columbia City area hasn’t moved much in the last few weeks, we are relatively close to the market’s high-water mark.  Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
 
 
 
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.
 
 
 
 
Living in Columbia City
 
 
Columbia City is a very eclectic neighborhood that is embraced by its residences and the businesses that have located there. The business area is filled with galleries, boutiques and a host of dining and entertaining options that fill the neighborhood with color and local flair.
 
 
 
New home search in SeattleColumbia City has its own unique flavor which can be seen in such events like the Dead Celebrity Custom Party or a special Valentine Day event “Dancing off the Ceiling: The music of Chet Baker” are common place in Columbia City.
 
A large number of residences in Columbia City are not dependent on large corporations for employment but rather choose careers in the “hidden tech” fields.  Home based businesses, entrepreneurs that are well connected to the information economy as investors, graphic artists, freelance writers, architects, telecommuters, software consultants, and other higher paying professions.
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Adrian specializes in green home marketing utilizing traditional and social media marketing to create the widest exposure of your property.

Comments (1)

Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Afternoon Adrian

Thanks for the post and market analysis. Have a great week.

Sep 02, 2015 06:56 AM