Real estate demand and inventory both falling in Lake Forest Park & Sheridan Beach neighborhoods

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

 

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

 

            Real estate demand and inventory both falling in Lake Forest Park & Sheridan Beach neighborhoods

The median List prices  for the  Lake Forest Park/Sheridan Beach area  is $499,000 up from last week’s  $444,475.  Inventory has been decreasing lately but the Market Action Index  (see below MAI chart) is also falling.  With days-on-market climbing, these are relatively negative implications for the market.

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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 . . . . ……Get the full report. 

Price

Prices in the Lake Forest Park-Sheridan Beach 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.

 

Is it the right time to sell your Lake Forest Park Sheridan Beach home?

Many homeowners are asking the same question, “has the value of our home increased to the point we can sell it?”

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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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