December Laurelhurst Real Estate Update

Thanks to Kim Dales for providing us with this neighborhood real estate activity monthly report:

December 2013 was a very quiet end to a verybusy year, with not one new listing. Two homes did go pending with an average price of $874,950, and 8 closed with a strong average sales price of $1,162,625. The average days on market did go up, which is understandable due to the holidays.

My prediction for our local housing market in 2014:
• Continued increase in housing prices, perhaps not double digit but in the high signal digit range. • An increase in interest rates by approximately 1% which hopefully will not have an adverse affect on housing prices.
• If you are thinking of selling your home this year, market experts feel that the first half of the year will be the optimal time to list your home.


PENDING
Price Range                Quantity     DOM
$850,000 - $899,999           2               29

Average price $874,950


SOLD
Price Range              Quantity        DOM
$450,000 - $499,999        1                    7
$800,000 - $849,999        2                   43
$850,000 - $899,999        1                   25
$1,000,000 - $1,249,999  2                   12
$1,250,000 - $1,499,999  1                    10

$2,000,000+ 1 23
Total = 8
Average sales price = $1,162,625
Average DOM = 22


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