Northeast Seattle’s light real estate inventory drives prices higher
The median list price in Northeast Seattle (zip code 98125) is $560,000 up from last week’s $509,944. Inventory has been lightening lately and the Market Action Index (see MAI chart below) has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market. down lately. Check in next week to see how the housing market in northeast Seattle is shaping up.
Average days-on-market (DOM) 32 days down from last week’s (24).
Percent of properties with price decreases 30% up from last week’s 29%.
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?
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.