Kim Dales has provided this neighborhood real estate activity for March:
There were no new listings in March and having been a Managing Broker for over 20 years it is the first time I haven't seen a time in any market when there were no new active listings.
As you can see from the March Pending data, of the 8 pending listings 4 were listed and went under contract, three in 5 days and one in 8, and the fifth was listed and went pending in the same month.
The three sales in March sold within an average of 5 days on the market with a median sales price of $2,895,000 compared to last March 2021 which had a median sales price of $2,398,000 an 17% increase over last year.
As interest rates (now 4.5% for a 30-year fixed mortgage) and inflation continue to climb conventional wisdom would seem to be a decrease in buyers, but this is not the case in Laurelhurst, or really any neighborhood in Seattle. It continues to be a very strong seller's market with buyer's waiving many, if not all, their offer contingencies to secure a home in our neighborhood.
ACTIVE LISTINGS AS OF 4/6/22
ZERO
PENDING IN MARCH
*Listed & under contract in the same month
** currently pending
SOLD IN MARCH
Median Sales Price = $2,895,000
CDOM = Cumulative Days on Market
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