March Neighborhood Real Estate Update

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

4732 48th Ave NE

This month our world is a bit surreal, but fortunately it has not affected real estate. Even in the midst of the current situation, homes in Seattle are being listed and are selling, frequently with multiple offers.

There continues to be a shortage of listings and an abundance of buyers. Homeowners stay in their homes an average of 8.3 years versus only 4.3 years in 2000, according to the Northwest MLS. This adds up to a lack of inventory but an abundance of demand.

In comparing March 2019 to March 2020 the most significant statistics are the number of active listings, from 11 last year to 6 this year, and decrease in the medium sales price from $2,257,500 last year to $1,584,333 this year.

ACTIVE LISTINGS 

Address	List Price	Beds/ Baths	Year Built	Sq.Ft	CDOM	Price p/sq.ft
5005 44th Ave NE	$639,950	2/1.75	2020	1,135	71	$563.83
4732 48th Ave NE	$1,340,000	3/2.5	1944	2,140	10	$516.53
4558 51st Ave NE	$1,950,000	6/3.25	1969	3,990	146	$488.72
4312 36th Ave NE	$1,999,900	5/5.5	2016	4,800	74	$416.65
5136 45th Ave NE	$2,398,000	5/5	2020	4,620	49	$519.05
4911 NE Laurelcrest Lane	$13,250,000	6/6.5	2008	9,590	202	$1,381.65

PENDING IN  MARCH

Address	List Price	Beds/ Baths	Sq.Ft.	CDOM
*5009 44th Ave NE	$659,950	2/1.75	1,098	16
*5069 Harold Pl NE	$1,295,000	3/2.25	2,550	3
4528 W Laurel Dr NE	$2,800,000	5/3.25	3,610	156

    * listed and under contract in March

SOLD IN MARCH

Address	List Price	Sold Price	CDOM	Beds/ Baths	Sq.Ft	Price  p/sq.ft	Date Sold
4507 NE 54th St	$969,000	$1,037,000	4	2	2,190	$473.52	3/19
4123 NE 41st	$1,250,000	$1,316,000	7	4/1.75	2,420	$543.80	3/17
4005 50th Ave NE	$2,350,000	$2,400,000	1	4/3.25	3,450	$695.65	3/11
Averages		$1,584,333	5			$570.99

Median Sales Price = $1,316,000

CDOM = Cumulative Days on Market