Seattle Real Estate Trends, February 2015

As Seattle’s spring real estate market gets underway, the lack of available Seattle homes for sale continues to be the leading story:

Inventory and Pendings

In fact, many homes that are coming on the market are getting snapped up very quickly. All of my listings are now pending with an average of only 8 days on market. These listings range from $550,000 to $900,000 and cover Wedgwood, Fremont, Ravenna, and Hawthorne Hills neighborhoods.

Below we compare the number of active listings (supply) and pendings (demand) for several of our Seattle neighborhoods including Central Seattle, Queen Anne and Magnolia, Belltown and Downtown, Ballard, North Seattle and Greenlake neighborhood. Our table includes single family residences as well as condos comparing February 2014 and 2015.seattle-trends-2015-02-1

Median Sales Prices

Although inventory is down throughout the city, we are seeing a mixed bag when it comes to median sales price averages comparing last month to the year before. We have a high of +16.29% in Ballard and Greenlake while we have a 9% decrease in Belltown and Downtown with a variety in-between as inventory adjusts throughout Seattle.

seattle-trends-2015-02-2

I would love to talk with you about your real estate investment goals and help you make a plan, whether that is a five month plan or five years. Contact me at sold@windermere.com or give me a call: (206) 226-5300.

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