Lake Forest Park’s real estate inventory and demand both falling

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

 

 

                                      Lake Forest Park’s real estate market is showing some resiliency

90-day stats for Single Family properties in
SEATTLE, WA 98155 as of August 28, 2015
Median List Price: $481,749 Average List Price: $661,160
Total Inventory: 65 Price per Square Foot: $246
Average Home Size: 2,184 Median Lot Size: 9,126
Average # Beds: 3.70 Average # Baths: 2.24
Homes Absorbed: 15 Newly Listed: 15
Days on Market: 37 Average Age: 53

 

 Lake Forest Park’s real estate inventory and demand both falling 

This Week:

The median List prices  for the  Lake Forest Park/Sheridan Beach area  is $475,000 down slightly from last week’s  $499,950.  Inventory has been decreasing lately but so has the Market  Action Index (see below MAI chart). With days-on-market climbing,  these are relatively negative implications for the market.

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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. . . . ……Get the full report. 

Price

We continue to see prices in the Lake Forest Park-Sheridan Beach area at a plateau even though prices dipped this week.  Look for a persistent change in the Market Action Index before we see prices significantly deviate from these levels.

 

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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)

Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Good morning Adrian, always enjoy viewing information on other communities.  Thanks for sharing.

Sep 03, 2015 02:35 AM