Wednesday, July 11, 2018

June Laurelhurst Real Estate Summary



Kim Dales has provided this neighborhood real estate activity report for the month of June:

3516 46th Ave NE
listed for $3,250,000


June was rather quiet in the neighborhood with only 5 new listings.  Days on market has typically been typically been under 10 days, but has increased considerably. The market is cooling down a bit, with many homes not receiving offers on the posted review date. Why could this be happening? Possibly because 1) Summer and buyers and their families are shifting their focus from buying a home to planning a vacation 2) Interest rates for a conventional 30 loan are now hovering at about 6% and 3) There is a level of buyer burnout as buyers are getting tired of spending money for pre-inspections and sewer scopes only to have to compete and lose their offer to a higher bidder.

If you are a seller contemplating listing your home it is best to have realistic expectations regarding pricing, with home preparation being forefront in the listing process. The more you can do to present your home in a positive light the strong and more offers you will receive. Below are 5 tips:
  1. Paint. If you have peeling or cracking paint get it repaired. Deferred maintenance is a red flag for buyers
  2. Service your furnace. Your furnace should be serviced annually and is an expectation of buyers. Make sure your service provider puts a sticker on your furnace that is visible for a prospective buyer to view.
  3. Oil tanks. If you have converted to gas from oil you need to have your oil tank decommissioned. A buyer will expect this so just do it now to decrease any issues down the road.
  4. Home inspection. By doing a home inspection before you list your home you can make any major repairs and it can be shared with a buyer which is very helpful.
  5. Sewer scope. I can't tell you how many home owners say to me. "I don't have a sewer issue my toilets flush fine". What homeowners don't realize is that if there is a break in the line it won't back up it will leach out I would advise you to do one, pay for any necessary repairs and share it with any potential buyers. They will greatly appreciate it.



ACTIVE LISTINGS

Address
List Price
Beds/
Baths
Year
Built
Sq.Ft
CDOM
Price
p/sq.ft
5047 Harold Pl NE
$1,065,000
2/1.75
1945
1,930
17
$551.81
*5029 44th Ave NE
$1,150,000
3/3.25
2017
2,091
2
$549.98
3844 Surber Dr NE
$1,200,000
3/1.75
1956
1,690
10
$710.06
4826 NE 41st St
$1,550,000
4/2.25
1930
3,300
55
$469.70
4144 36th Ave NE
$1,590,000
4/3.25
1995
3,180
20
$500.00
*4537 49th Ave NE
$1,949,500
5/3.5
2005
3,790
6
$514.38
3915 51st Ave NE
$2,495,000
4/3.5
2003
4,190
20
$595.47
3011 E Laurelhurst Dr NE
$3,200,000
4/3.5
1908
5,380
25
$594.80
3516 46th Ave NE
$3,250,000
5/4.5
1921
4,400
17
$738.64
5020 NE 45th St
$4,750,000
5/5.5
1969
8,710
135
$568.31
3201 43rd Ave NE
$11,750,000
4/6
2017
8,562
13
$1,372.34
3054 E Laurelhurst Dr NE
$11,800,000
5/4.75
1928
7,683
661
$1,535.86
*listed and under contract in June


PENDING IN JUNE

Address
List Price
Beds/
Baths
Sq.Ft.
CDOM
*5029 44th Ave NE
$1,150,000
3/3.25
2,091
2
4316 36th Ave NE
$1,599,000
8/4
3,650
28
*4537 49th Ave NE
$1,949,500
5/3.5
3,790
6
3315 E Laurelhurst Dr NE
$2,495,000
5/3.25
4,270
19
*Listed and under contract in June


SOLD IN JUNE

Address
List Price
Sale Price
CDOM
Beds/
Baths
Sq.Ft
Price
p/sq.ft
Date Sold
5047 Ivanhoe Pl NE
$1,100,000
$1,050,000
19
3/1.75
2,130
$492.96
6/16
4747 48th Ave NE
$1,019,500
$1,265,000
6
3/1.75
1,385
$913.36
6/11
5027 Ivanhoe Pl NE
$1,225,000
$1,390,000
7
4/3.25
2,140
$649.53
6/15
4108 43rd Ave NE
$1,500,000
$1,500,000
11
4/2.5
3,365
$445.77
6/6
5146 48th Ave NE
$2,199,950
$2,199,950
8
5/5
4,040
$544.54
6/22
3817 49th Ave NE
$2,260,000
$2,260,000
157
4/3.75
3,467
$651.86
6/13
5100 NE Latimer Pl
$2,885,000
$2,800,000
52
4/3.75
5,170
$541.59
6/29
Averages
$1,780,707
37

$605.66


Median Sales Price = $1,500,000
CDOM = Cumulative Days on Market


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