Northeast Seattle’s real estate market showing an upswing in demand
This Week:
The median list price in Northeast Seattle (zip code 98125) is $565,000 up from last week’s $544,950. Inventory is lightening 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. Check in next week to see how the housing market in northeast Seattle is shaping up.
Average days-on-market (DOM) 47 days up from last week’s 38 days.
Percent of properties with price decreases 39% up from last week’s 31%.
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?
In the last few weeks we’ve seen prices in the Victory Heights area bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
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