Northeast Seattle’s real estate market showing signs of slowing
This Week:
The median list price in Northeast Seattle (zip code 98125) is $509,944 up from last week’s $499,000. 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) 26 days up from last week’s (24).
Percent of properties with price decreases 28% up from last week’s 24%.
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
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
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?
Prices in northeast Seattle 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.
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