Although our volumes were a bit low in February, we had positive movement as you can see by the stats. 7 new listings, 3 previously listed homes went pending, and 3 pending homes closed. From the talk in my office we should be seeing a fair number of new listings in the month of March, which is fairly typical for the Laurelhurst market.
A few readers have been curious regarding the status of the home at 4738 47th Avene NE. (See the picture of the home below and blog post from July 2009)The home is a short sale, originally listed on June 21st, 2007 for $649,950 After its most recent price reduction on September 14th 2010 to $445,000, an offer was accepted on September 30th 2010. Bank of America is the lien holder, and they still have not agreed on the purchase price, therefore the home is still pending inspection. Although we are seeing a decrease in short sale time lines, this particular home has been pending inspection for over 5 months, a very long time for a buyer to wait.
New Active Listings February 1st thru February 28th
ACTIVE
Listing Price Range Quantity Average DOM*
$250,000 thru $299,999 1 27
$600,000 thru $649,999 1 14
$650,000 thru $699,999 1 22
$750,000 thru $799,999 2 13
$950,000 thru $999,999 1 8
$1,750,000 thru $1,999,999 1 14
TOTAL 7 16
Minimum $291,630
Maximum $1,995,000
Average $877,797
Median $769,000
PENDING
Listing Price Range Quantity Average DOM
$140,000 thru $159,999 1 7
$500,000 thru $549,999 1 37
$1,000,000 thru $1,249,999 1 8
TOTAL 3 17
Minimum $149,00
Maximum $1,159,000
Average $612,333
Median $529,000
SOLD
Listing Price Range Quantity DOM
$450,000 thru $499,999 1 125
$850,000 thru $899,999 1 4
$1,750,000 thru $1,999,999 1 33
$2,000,000+ 1 251
TOTAL 4 103
Minimum $500,000
Maximum $3,400,000
Average $1,668,375
Median $1,386,750
If you have any specific questions concerning the Laurelhurst market you can reach me at 206.235.7772 or kodales@windermere.com.
(short sale home at 4738 47th Avene NE)
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