Tuesday, February 10, 2015

January Laurelhurst Real Estate Summary

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.

January listings didn't disappoint with a typical slow start in Laurelhurst, but as you can see by the data our housing prices continue to increase.

I have spoken to a number of potential sellers in the neighborhood last month and the overall message I am receiving is that many of you would like to sell, as the market is so strong right now, but where do you go? Even homeowners looking to move into retirement communities are faced with waiting lists.

Lack of inventory, not just in our neighborhood, but across Seattle makes it difficult for sellers to find a property after they have sold their home, thus making everyone hesitant.

One suggestion if you are seriously thinking about selling your home and have not identified a second property is a lease back. Recently a home in Laurelhurst received 4 offers. The owners are purchasing another home, but it won't be ready to occupy for a few months. The buyer of their home, because it is a sellers market, gave them free rent back for 4 months to assist them with their transition. This may seem crazy, but buyers are desperate to purchase in Laurelhurst and will do just about anything to secure a home.
Price                                   Quantity                   DOM 

$750,000 - $799,999                1
$950,000 - $999,999                1
$1,250,000 - $1,499,999          2                            1
$1,500,000 - $1,749,999          1
Total: 5
Median Price: $1,120,000

Price                                   Quantity                   DOM 

$1,250,000 - $1,499,999      1                              4
Total: 1
Median Price: $1,265,000
Average DOM: 4

Price                                   Quantity                   DOM 

$1,000,000 - $1,249,999        1                            52
$1,250,000 - $1,499,999        1                            112
$1,500,000 - $1,749,999        1                            23
Total: 3
Median price: $1,312,000
Average DOM: 62

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