MARKET UPDATE: CAPITOL HILL – AUGUST 2015
If you haven’t believed the chatter about Seattle real estate heavily favoring sellers, check out this statistic:
This is incredible! We saw 20% less inventory come on the market this August than we did last year but buyer demand drove almost 20% more sales – which means homes that are priced appropriately are selling, and selling fast!
The average price per square foot in the neighborhood also reached a new 15 month high at $380 per square foot.
As mentioned, inventory remains low with just 1.2 months available which caused homes in the area to sell at an average of 102% of seller asking prices.
Bottom line, if you own real estate in the Seattle area, specifically real estate in and around the Capitol Hill neighborhood, this year continues to be a fantastic time to sell. As agents who live and work in the Capitol Hill area, we know the subtle nuances of the neighborhood’s marketplace and would be happy to put together a comprehensive market analysis for you to review. Just give us a call any time.