August Laurelhurst Real Estate Summary



Thanks to Kim Dales for providing us with this neighborhood real estate activity monthly report:
Laurelhurst doubled its listings from two in  August of 2012 to four in 2013. Perhaps more encouraging was the time on market from active to pending inspection or pending in less than six days.

We also saw a huge reduction in total days on market from date of listing to pending of only an average of seventenn days on the market. The 3 homes that sold under $1,000,000 were only on the market an average of 7.5 days!

I recently read an article in a  Real Estate blog I subscribe to that continues to encourage sellers to sell in our current market for these three reasons:
• Demand is High - nationally there has been a 17.2% increase in sales since July 2012
• Supply is beginning to Increase - nationally the supply of homes rose 5.6% from this January.
• Interest Rates are rising - interest rates for a 30 year mortgage are now running approximately 4.57%, a 1% increase from May of this year.

As we all know, Laurelhurst is a very unique and special neighborhood with a huge buyer pool.   Our neighborhood continues to increase in price resulting in multiple offers and low days on market.


NEW LISTINGS
Price                                          Quantity
$550,000 - $599,999                    1
$650,000 - $699,999                    1  (went straight to pending in 6 days)
$1,250,000 - $1,499,999              2  (1 went pending in 3 days the other pending feasibility in 4 days)

Total = 4
Average price = $979,987


PENDING INSPECTION
Price Range                   Quantity         DOM* (Days on Market)
$700,000 - $749,999        1                     41

Average price  $749,950
Average DOM = 41



PENDING
Price Range                  Quantity            DOM
$500,000 - $549,999             1                       6
$550,000 - $599,999             1                       6  ( new listing) 
$1,250,000 - $1,4999,999     2                       4 (new listings)

Average price $942,488
Average DOM = 5


SOLD
Price Range                Quantity           DOM
$600,000 - $649,999          1                 7
$650,000 - $699,999          1                 8
$950,000 - $999,999           1                7
$1,000,000 - $1,249,999     1              51
$1,250,000 - $1,499,999     1              20
$1,500,000 - $1,749,999    1              10

Average sales price = $1,057,745
Average DOM = 17



Kim Dales can be reached at 206.235.777 or kodales@Windermere.com.