Tuesday, March 25, 2014

February Laurelhurst Real Estate Update

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

February was very quiet in Laurelhurst with only two new listings, two pending listings, and one sold.
A recent study revealed that the number of existing home owners planning to buy a home this year is about to increase. Some buyers are moving up, some are downsizing and others are making a lateral move. Another study shows that over 75% of these buyers will, in fact, be in that first category: a move-up buyer.
There is no way to predict the future but we can look at the past to watch for trends. According to Mathew Gardener, a Seattle real estate economist, he is predicting that the market will increase in 2014 approximately 8-11%, and interest rates by the end of the year to be 5.1%.

For buyer's wanting to move into Laurelhurst the inventory is extremely low so when a home
does come on the market it is typically sold in approximately 1 week.

Price                                           Quantity

$1,250,000 - $1,499,999                1
$2,000,000+                                   1

Total =2
Average price = $1,799,500

Price                                    Quantity      DOM

$1,250,000 - $1,499,99          1               99
$2,000,000+                           1                 8
Total = 2
Average DOM = 54
Average price 1,749,500

SOLDPrice                                   Quantity    DOM
$900,000 - $949,999             1               3

Total = 1
Average sales price = $925,000

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

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