2014 was another strong year in our market! Just how strong? Check out the numbers below!
Inventory of Listings
Below is a table comparing the number of NEW active listings (supply) and pendings (demand) for several Seattle neighborhoods: Central Seattle, Queen Anne/Magnolia, Belltown/Downtown, Ballard/Greenlake, and North Seattle (these numbers include single family residences as well as condos):
In Central Seattle, we saw both a drop in new active inventory along with homes under contract. Queen Anne/Magnolia saw a drop in new active listings along with a small drop in pendings (indicating this is still an area with high demand). Belltown/Downtown saw a large increase in new active listings which were mainly condo based. Inventory was absorbed quickly with Belltown/Downtown sporting both the largest swing in new active listings and new pendings.
Ballard/Greenlake saw both a slight increase in new active listings along with pendings while North Seattle continued its high demand profile with a slight decline in new active listings and a slight increase in pendings.
Median Sales Prices
Median sales prices tell the story even further. It shouldn’t surprise you to see that median sales prices are up across the board in Seattle, ranging from 4.09% to 11.33%. Below are the median sales price averages for the neighborhoods I track comparing 2013 to 2014. Remember, these prices include both residences and condos.
Please contact me at sold@windermere.com or give me a call: (206) 226-5300 to learn more about what to expect for 2015!