Tuesday, July 12, 2011

June Laurelhurst Real Estate Summary And Important Information On Oil Tanks

Thanks to Kim Dales for providing us with this neighborhood real estate activity monthly report:

June Laurelhurst Real Estate Recap and Information On Active Oil Tanks

June had a slight increase in active listings from five in May to eight. Three homes sold and one is pending inspection
and one is pending. The pending home is a waterfront property that had multiple offers, listed at $2,900,000. Currently
there are five waterfront homes on the market ranging from 4-314 days.

Although many homes have been converted to gas heat over the years in Laurelhurst there are still a significant number
who heat with oil. If you heat your home with oil please make sure you have your tank insured through PLIA (Pollution
Liability Insurance Agency).

For a very nominal fee your tank can be insured for up to $60,000 in remediation fees if you ever discover a leak. The majority of tanks are original in our neighborhood, and it is extremely common for older tanks to leak.

If you are anticipating selling your home, and have oil heat, I strongly suggest making sure you have tank liability insurance, and be pro-active register sooner than later. For more information concerning PLIA you can access the web
site  or call toll free 800.822.3905.

New Active Listings as of June 1st

Listing Price Range                Quantity       Average DOM*

$400,000 thru $600,000               2                               15
$800,000 thru $900,000               1                                 5
$1000,000 thru $1300,000           1                                15
$1,600,000 thru $1,800,000         2                                14
$2,000,000 thru $2,500,000         2                                12
TOTAL                                       8                                12

Minimum   $469,00
Maximum   $2,500,000
Average     $1,430,000
Median      $1,484,950

Pending Inspection

Listing Price                         Quantity                  Average DOM

$830,000                                    1                                 15


Listing Price Range           Quantity                     Average DOM

$2,900,000                               1                                   26

Minimum    $602,500
Maximum    $930,000
Average     $734,833
Median       $766,250

*DOM = Days on Market

If you have any specific questions concerning the Laurelhurst market you can reach me @ 206.235.7772 or kodales@windermere.com.

No comments: