May Laurelhurst Real Estate Update

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

3522 46th Ave NE 

sold after 3 days on the market

May had very few active listings - just 3 and 1 pending sale and 5 homes that sold. May of 2020 there were only 4 active listings and only 3 sold.  It is surprising that in our current market we aren't seeing more homes being listed in Laurelhurst. I personally feel that many potential sellers do not have an exit strategy, and don't want to overpay so they are waiting. Also, Seattle was just named one the fastest growing cities in the US, so I think this current market trend is here to stay for the immediate future.

In comparing inventory from May 2020 to May 2021 there was quite an increase in the median sales price from $1,275,000 to $3,400,000. 

So it is an extremely competitive market right now due to lack of inventory. For buyers to be competitive they need to waive most if not all of their contingencies, ie. inspection, financing, and title. We are also seeing buyer's release their earnest money directly to the seller and making that money non-refundable. It is an extremely competitive market right now.

ACTIVE LISTINGS AS OF 6/3/21

Address	List Price	Beds/ Baths	Year Built	Sq.Ft	CDOM	Price p/sq.ft
5161 NE 42nd St	$1,500,000	4/2.25	1907	2,860	0	$524.48
5161 NE 41st St	$2,649,950	4/4.25	1964	3,860	3	$686.52
4404 52nd Ave NE	$4,350,000	6/3.25	1929	5,505	10	$790.19

PENDING INSPECTION IN MAY

Address	List Price	Beds/ Baths	Sq.Ft.	CDOM
4826 NE 41st St	$1,800,000	4/2.25	3,100	12

   

PENDING IN MAY

Address	List Price	Beds/ Baths	Sq.Ft.	CDOM
*5009 44th Ave NE	$729,950	2/1.75	770	1
*4502 47th Ave NE	$1,675,000	5/3.75	2,790	6
*3522 46th Ave NE	$2,725,000	3/3	3,090	3
*3926 47th Ave NE	$3,300,000	4/3	2,984	6

* Listed and under contract in May

SOLD IN MAY

Address	List Price	Sold Price	CDOM	Beds/ Baths	Sq.Ft	Price  p/sq.ft	Date Sold
3912 48th Ave NE	$1,875,000	$1,950,000	6	4/3.25	2,750	$709.09	5/12
3151 E Laurelhurst Dr NE	$2,895,000	$3,136,000	5	4/3.75	4,700	$667.23	5/14
4803 NE 39th St	$2,698,000	$3,200,000	6	4	5,960	$536.91	5/3
5012 NE Laurelcrest Ln	$4,595,000	$4,050,000	44	5/3.25	6,980	$580.23	5/28
3156 E Laurelhurst Dr NE	$4,850,000	$5,125,000	10	5/4	4,900	$1,045.92	5/3
Averages		$3,492,200	14			$709.88

Median Sales Price = $3,200,000

CDOM = Cumulative Days on Market