Kim Dales has provided this neighborhood real estate activity report for the month of March:
Laurelhurst Real Estate has been very active with multiple offers becoming the norm, and homes escalating significantly above their listing prices. As we have experienced so far in 2021 the lack of inventory is definitely a driving force.
Here is the comparison from March 2020 to March 2021:
March 2020
Active listings: 6
Pending listings: 3
Sold listings: 3
Cumulative Days on Market: 5
Median sales price: $1,584,333
March 2021
Active listings: 1
Pending listings: 10 (6< 6 days DOM)
Sold listings: 2
Cumulative Days on Market: 62
Median sales price: $2,398,000
As you can see by the numbers the low inventory is definitely affecting our prices with a 66% increase year to year. The 62 DOM (days on market) number is the result of a few homes overpriced that had multiple price reductions before they were sold.
Supply and demand is definitely in your favor if you are thinking of selling your home.
ACTIVE LISTINGS
PENDING INSPECTION MARCH
*Listed and under contract in March
PENDING MARCH
*Listed and under contract in March
SOLD IN MARCH
Median Sales Price = $2,398,000
CDOM = Cumulative Days on Market
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