Thursday, July 16, 2015

June Laurelhurst Real Estate Update

Kim Dales has provided this neighborhood real estate activity monthly report:

In comparing the Laurelhurst inventory from 2014 to 2015 the most impressive statistics are
the number of new listings or I should say lack there of!.

Last year in June there were 8 new listings.  This year only 3. Last year in June there were 5 pending sales this year just 2.  Sold homes came in exactly the same at 8 for each year with the median price almost exactly the same.

It appears that the majority of homes are being listed with Licensed Realtors who are waiting to review offers in our current seller driven market. This strategy is designed to have more than one buyer place an offer resulting in buyers basically bidding against each other resulting in a multiple offer situation.

As we all know Laurelhurst with its many amenities is attracting both in city and out of state buyers. As interest rates continue to be attractive, buyers have more buying power and are anxious to purchase will rates remain low.

Price                                   Quantity                   DOM
$550,000 0 $599,999              1*                      pending
$1,000,000 - $1,249,999         2**         
Total: 3
Median Price:  $1,148,000

Price                                   Quantity                   DOM
$550,000 - $599,999             1                           6*
$2,000,000+                          1                          85  
Total                                     2                          46

Median Price:  $2,524,500
Average DOM:  46

Price                                   Quantity                   DOM

$750,000 - $799,999            1                                8
$1,000,000 - $1,249,999      4                              17 **
$2,000,000+                         3                              28
Total                                     8                             19
Median Price:  $1,198,750
Average DOM:  19

* Properties going from Active to Pending in the same month
**   Property went from Active to Pending to Sold in the same month

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