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.
NEW LISTINGS
Price Quantity
$1,250,000 - $1,499,999 1
$2,000,000+ 1
Total =2
Average price = $1,799,500
PENDING
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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