March Laurelhurst Real Estate Update

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 

Address	List Price	Beds/ Baths	Year Built	Sq.Ft	CDOM	Price p/sq.ft
5012 NE Laurelcrest Lane	$4,595,000	5/3.25	2003	6,980	21	$658.31

PENDING INSPECTION MARCH

Address	List Price	Beds/ Baths	Sq.Ft.	CDOM
4188 42nd Ave NE	$1,150,000	3/1.75	1,910	38
3732 47th Pl NE	$2,549,000	5/4.5	4,150	175

*Listed and under contract in March

PENDING MARCH

Address	List Price	Beds/ Baths	Sq.Ft.	CDOM
*4326 NE 44th St	$899,000	3/1	2,790	6
*4317 37th Ave NE	$1,150,000	4/2	2,090	2
*4837 NE 41st St	$1,295,000	4/2	1,810	6
4552 51st Ave NE	$1,595,000	6/2.5	3,090	158
*4310 43rd Ave NE	$1,875,000	5/3.75	2,981	6
3879 43rd Ave NE	$2,295,000	5/4	3,240	94
3732 47th Pl NE	$2,549,000	5/4.5	4,150	175
*4803 NE 39th St	$2,698,000	6/4	5,960	6
**4528 W Laurel Dr NE	$2,995,000	5/3.25	3,610	3
*3802 48th Ave NE	$3,893,000	4/3.25	5,504	5

*Listed and under contract in March

SOLD IN MARCH

Address	List Price	Sale Price	CDOM	Beds/ Baths	Sq.Ft	Price  p/sq.ft	Date Sold
4520 45th Ave NE	$2,125,000	$1,985,000	117	4/3.5	3,300	$601.52	3/10
3045 E Laurelhurst Dr NE	$2,598,000	$2,811,000	6	4/4.5	5,040	$557.74	3/11
Averages		$2,398,000	62			$579,63

Median Sales Price = $2,398,000

CDOM = Cumulative Days on Market