Seattle Real Estate Update – Jan 2015

Feb 12 20150 Comment

Seattle real estate trends are extremely neighborhood-centric and can vary drastically from one pocket of the city to another. Here, we’ve broken down the stats from January 2015 for a handful of neighborhoods in which we work. If you don’t see information for your neighborhood of interest, please register for Market Snapshot or let us put together stats on your behalf. You can also check your home’s current value using the widget above.

 

 *Click Graphs to Enlarge*

Arboretum: Looking back at inventory levels in the Arboretum neighborhood since 2011, we’ve been experiencing a shortage of supply for a few years – oftentimes with just a single home going on the market and then selling  in a month or less. Case in point – we had 1 new listing come on the market in January and that property is already under contract.. View Arboretum homes for sale >

 

 

Montlake: Where are the Montlake sellers? Once again, this neighborhood had no new listings, no new pending sales and ended with just 2 closings in January. With a median sales price of $863,000 (1/2015), buyer demand reaching a feverish pitch, and homes selling in 7 days, now seems like a GREAT time to list your home if you live in this neighborhood! View homes for sale in Montlake >>

 

 

Broadmoor: Broadmoor is picking up steam as well! There were 4 new listings in January, 3 sales plus 2 other homes went under contract. Talk about a busy start to the new year! View homes for sale in Broadmoor >>

 

 

 

Eastlake: We saw a slight shift in Eastlake last month with inventory levels jumping up in favor of buyers – something we haven’t seen in most neighborhoods as of late. Eastlake is heavily populated with condos so if you are just looking at single family properties in the neighborhood (which this chart does), we have to consider that there are 5 new construction townhomes for sale (4 of which are part of the same project – the Residences at Fairview, completed in 2014), 2 floating homes, and just 1 single family house one the market. Meaning that even though the data suggests buyers can win in Eastlake, if you’re not interested in a townhouse or house boat, you might just be out of luck at the moment. View homes for sale in Eastlake >>

 

Madison Park: Competition for buying a home in Madison Park is steep – and has been for some time. We saw 2 new listings, 2 pending sales and 1 closed transaction in the neighborhood in January which is making it difficult or buyers interested in moving to the area. Sellers take note: as of today, 2/12/15, there are just two active listings in the NWMLS!  View homes for sale in Madison Park >>

 

 

Washington Park: Washington Park saw 5 homes comes on the market in January, making this neighborhood considerably less active than those boarding it like Madison Park. Perhaps that is in large part due to the fact that the median home price has ranged from $1.8 million to $2.4 million? While we are somewhat surprised there were no closed sales last month, we don’t anticipate that we won’t see these low numbers trend for any significant amount of time. View homes for sale in Washington Park >>