Seattle Real Estate Update – Nov. 2014
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 November 2014 for a handful of neighborhoods in which we work. If you don’t see information for your neighborhood of interest, please let us know. You can also check your home’s current value using the widget above.
Arboretum: The 2 listings that were pending in October closed last month with no new inventory coming available. The days on market was short – an average of 11 days and the properties sold at an average of 98% of the sellers asking price. With zero inventory, now is definitely a great time to list your Arboretum home for sale and have a distinct competitive advantage.
Montlake: Only 2 homes came on the market in Montlake last month but buyers were able to scoop up leftover inventory from October. Six properties went under contract and 2 more sales closed at an average of 99% of the seller’s asking price.
Broadmoor: 3 houses came on the market in Broadmoor last month and 2 went pending. The average list price in the neighborhood was up slightly to $2,906,000.
Eastlake: Inventory creeped up a little bit last month with new listings boosting the months of inventory available to 2.2 – however anything under 3 months of inventory is considered a seller’s market so it is still a great time to list a property in the Eastlake neighborhood!
Madison Park: Madison Park saw 5 homes come on the market in November, 5 go pending and 5 sales close. Their total available inventory levels have dropped to just 1 month which means this neighborhood could use some fresh listings to make an appearance. We should likely start to see this happen after the first of the New Year.
Washington Park: Washington Park stabilized a bit in November with 3 listings going under contract. There is still over 5 months of inventory available (down from 9 the previous month) so while there are still a number of homes available for sale, the overall pulse of the market is neutral – meaning it is balanced for both buyers and sellers.