August Laurelhurst Real Estate Update

 

 
Thanks to Kim Dales for providing us with this neighborhood real estate activity monthly report.  Kim can be reached at 206.235.777 or kodales@Windermere.com.

 
 
August was a bit of a sleepy summer month, not unusual, however homes are still selling in less that three weeks.

As I see interesting statistics are interesting I would like to share those by offering a "tip for the month” starting this month.


SEWER SCOPING: To do one, or not to do one before putting your home on the market

If you are thinking about listing your home talk with your Realtor about whether or not you should perform a sewer scope before putting your home on the market. In a
neighborhood like Laurelhurst, older homes equal older sewer lines, which can result in breaks and cracks. Many homeowners feel that if they don't have a sewer backup then their sewer line is fine. Not always the case.

In fact, I recently had a listing in which the owner's had never had any sewer issues, but
during the sewer scope inspection it was found that there was a large break resulting in sewage leaking into their yard. Sewer line repairs are not inexpensive, and can range from a few thousand dollars to upwards of $10,000. Many sellers just want to wait and see if a prospective buyer will perform a sewer scope. If performed, and a defect is found, the seller should be prepared to pay to have the defect repaired, or to give the buyer a monetary credit at closing.


 
NEW LISTINGS
Price                                   Quantity                   DOM 
$600,000 - $649,999                      1
$750,000 - $799,999                      2                       1       
$1,000,000 - $1,249,999                1
$1,250,000 - $1,499,999                1
Total                                              5
 
 
 
PENDING INSPECTION
Price                                   Quantity                   DOM 
$750,000 - $799,999            2                              19
$1,500,000 - $1,749,999      1                              91
Total                                     3                             110
 
Average Price $1,059,333
Average DOM: 43
 
 
 
PENDING
Price                                   Quantity                   DOM 
$1,000,000 - $1,249,999        1                           30
$1,500,000 - $1,749,999        1                         128
$1,750,000 - $1,999,999        1                          27
Total                                       3                          435

Average Price: $1,530,000
Average DOM = 62



SOLD          
Price                                   Quantity                   DOM 
$950,000 - $999,999             2                             20
$1,000,000 - $1,249,999        1                              1
$1,250,000 - $1,499,999       3                             36
Total                                     6                               80

Average sales price $1,198,333
Average DOM = 25


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