June Laurelhurst Real Estate Report

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

 4545 55th Ave NE

June was an interesting month in Laurelhurst as pending and sold were very similar to the neighborhood market in May, but the number of new listings was only two for last month and just nine for May. It's hard to know why there was such a significant decrease.

Regarding the 2 active listings:

• 4815 NE 44th Street:  went Pending in 7 days, which implies that the sales price will probably be at asking or higher.
• 3810 46th Ave NE: sold barely 1 year ago (3/23/16) for $1,268,000. It doesn't appear that any remodeling has occurred to substantiate a price increase of approximately 19%.

Regarding the sold homes: 

• only 3 sold for over their list price
• 1 sold at list
• 4 sold under their original listing prices

Of the two active homes on the market in June,  only one remained by the end of the month.

As homes are listed over the $1,800,000 threshold, buyers become a bit more particular regarding level of upgrades, finishes, location, and outdoor living spaces.

  

And currently on the market (pictured above) is a home at  4545 55th Ave NE, which had a recent price reduction to $1,976,800.  It is a very large 5 bedroom house with gorgeous lake, Mt Rainier views, plus the added bonus of an active eagles nest to watch through the telescope. It has been beautifully remodeled with a rooftop deck.  

Potential sellers ask me frequently " what is the best month to sell my home". Historically, I think we all feel that the spring is the best time as flowers are starting to bloom and the grass is green, making photographs pop with color, although it does get dark much later and the weather is generally not as predictable. I think the "spring is the best time" view should be thrown out the window. Based on our statistics and the number of new buyers flooding the market, if you home is priced, and marketed correctly your home will sell irregardless of what month you are listing it in.  Here is an article describing the current market environment in Seattle.

ACTIVE

List Price	Address	Sq.Ft	Price per/sq.ft
*$1,050,000	4815 NE 44th St	2,660	$394.74
$1,549,990	3810 46th Ave NE	2,940	$527.21

* under contract in June

PENDING

List Price	Address	Sq.Ft.	Price per/sq.ft	DOM
*$1,050,000	4815 NE 44th St	2,660	$394.74	7
$1,495,000	4212 37th Ave NE	3,500	$427.14	44
$1,575,000	5125 NE 42nd St	2,980	$528.52	8
$1,595,000	4540 45th Ave NE	3,340	$477.54	19
$6,750,000	3027 W Laurelhurst Dr NE	5,220	$1,293.10	34

SOLD

List Price	Sold Price	Address	Sq.Ft.	Price p/sq.ft	DOM
$925,000	$1,030,000	4531 49th Ave NE	1,800	$572.22	7
$1,300,000	$1,250,000	5115 NE 55th St	2,890	$432.53	5
$1,425,000	$1,565,000	4406 51st Ave NE	2,850	$549.12	5
$1,850,000	$1,700,000	5156 NE 54th St	3,610	$470.91	63
$1,895,000	$1,895,000	4712 NE 40th St	3,770	$502.65	11
$1,935,000	$1,900,000	3824 49th Ave NE	3,140	$605.10	14
$1,995,000	$1,935,000	4715 NE 39th St	3,300	$586.36	13
$1,995,000	$2,278,000	4547 W Laurel Dr NE	4,600	$495.22	13