Northeast Seattle’s real estate market remains bullish
This Week:
The median list price in Northeast Seattle (zip code 98125) is $544,950 down from last week’s $562,000. Inventory is tightening and days-on-market is falling. The Market Action Index (see MAI chart below) shows demand heating up. These are relatively bullish signs for prices. Check in next week to see how the housing market in northeast Seattle is shaping up.
Average days-on-market (DOM) 38 days up from last week’s 33 days.
Percent of properties with price decreases 31% up from last week’s 27%.
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 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 its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
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?
We continue to see prices in the Victory Heights area bounce around these current levels. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
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