We actually had less activity in May than April this year. The good news is that appropriately priced homes are receiving offers in rapid fashion as seen in the stats, and are selling very close to their asking prices.
I am anticipating more listings to come on in June based on discussion in my office. Temperatures over 60 degrees would also help!
In a recent market study of over 30 metropolitan cities based on sales in March of 2011, Washington DC and Seattle were the top two cities!
Here is to a warmer June and a continued brisk market. Interest rates as I write this blog are 4.5% for a 30 year fixed, and a 15 year fixed rate is 3.65%, unprecedented.
New Active Listings as of May 1st thru May 31st
ACTIVE
Listing Price Range Quantity Average DOM*
$450,000 thru $499,999 1 35
$550,000 thru $599,999 1 32
$950,000 thru $999,999 1 16
$1,250,000 thru $1,499,999 1 21
$2,000,000 1 8
TOTAL 5 22
Minimum $499,900
Maximum $6,795,000
Average $2,022,780
Median $950,000
PENDING INSPECTION
Listing Price Range Quantity Average DOM
$1,250,000 thru $1,499,999 1 22
PENDING
Listing Price Range Quantity Average DOM
$550,000 thru $599,999 1 3
$650,000 thru $699,999 1 5
$750,000 thru $799,999 1 70
TOTAL 3 26
Minimum $599,000
Maximum $765,000
Average $674,500
Median $659,500
SOLD
Listing Price Range Quantity Average DOM
$500,000 thru $549,999 1 34
$750,000 thru $799,999 2 16
$900,000 thru $949,999 1 9
TOTAL 4 19
Minimum $530,000
Maximum $920,000
Average $745, 250
Median $765,500
*DOM calculated as of 6/8/11
If you have any specific questions concerning the Laurelhurst market you can reach me at 206.235.7772 or kodales@windermere.com.
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