SEATTLE Q3
AREA
MARKET
REPORT
Based on information from the NWLMS, data reflects sales of single family homes and condos between 7/1/19 and 9/30/19.
coldwellbankerbain.com
SEATTLE AREA
J
ohn Deely, Principal Managing Broker of Lake Union and Madison Park, said, “The third- quarter Seattle residential market for the selected areas continued a strong showing for 2019. Record low interest rates helped propel buyers into the market as prices leveled off, compared to previous years. Overall, the Seattle areas had a decrease in inventory when compared to the same quarter last year. Most Seattle zip codes are recording an increase in market time as buyers approached the market with a more relaxed attitude. The condominium, Seattle luxury market and the Seattle waterfront continued to increase in inventory during the third quarter.
2
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
The Seattle luxury market ($2.5M +) had an 18%+ increase in listings with an average market time of 59 days. There was a total of 59 closings in the luxury market during the third quarter. The Seattle waterfront, residential market had a 51%+ increase in listings with an average market time of 110 days. There were 29 closings in the Seattle waterfront, residential market during the third quarter, with the average price at $1,944M. The selected Seattle condo market had a 6.9%+ increase in listings with 388 properties on the market and an average market time of 41 days. There were 451 closings in the Seattle condo market during the third quarter with the average price at $520,000.�
SEATTLE AREA Ballard - Green Lake | Capitol Hill | Madison Park | Magnolia | NE Seattle Seattle Central | South Lake Union - Queen Anne | West Seattle SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY
AVERAGE SOLD PRICE (Nearest $000)
AVERAGE DOM
Seattle Area
$981,000
32
Ballard/Green Lake
$856,000
29
Capitol Hill
$1,492,000
48
Madison Park
$1401,000
28
Magnolia
$1,176,000
40
NE Seattle
$939,000
28
Seattle Central
$891,000
38
S. Lake Union/ Queen Anne
$1,167,000
40
West Seattle
$877,000
31
Area Condos
$502,000
41
Area Waterfront (SF Only) Area Luxury ($1+M | SF+C)
$1,944,000
82
$2,941,000 $4,265,000 $0 $500
59 $1m
$1.5m
$2m
$2.5m
$3m
NUMBER OF SALES CLOSED 500
1456
400
454
TOTAL SALES CLOSED
451
300
372
200 100
180
45 86
111
Madison Park
Magnolia
0 Ballard / Green Lake
Capitol Hill
NE Seattle
Seattle Central
102
106
S. Lake Union/ Queen Anne
West Seattle
29 Area Condos
Area Waterfront
59
Area Luxury ($2+M / SF+C)
(SF Only)
INVENTORY IN UNITS - 10/01/2019
Total Eastside Inventory
869
+1.0%
226
35
63
62
228
130
78
47
388
53
110
+12.4%
-10.3%
+14.5%
-13.9%
+14.0%
-5.8%
-13.3%
-27.7%
+6.9%
+51.4%
+18.3%
Ballard / Green Lake
Capitol Hill
Madison Park
Magnolia
NE Seattle
Seattle Central
West Seattle
Area Condos
Area Waterfront
Area Luxury
S. Lake Union/ Queen Anne
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
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SEATTLE AREA Total Seattle Area | Area Condos | Area Waterfront
SEATTLE AREA Q3 2019 | Q3 2018 | % CHANGE TOTAL HOMES SOLD 1456 | 1284 | 13.4% AVERAGE SOLD PRICE $981,000 | $1,020,000 | -3.82% AVERAGE DAYS ON MARKET 32 | 18 | 77.78% SOLD/LIST PRICE % INVENTORY IN UNITS 99% | 100% | -1% 10/01/2019
AREA CONDOS Q3 2019 | Q3 2018 | % CHANGE
228 +14.0%
TOTAL HOMES SOLD 451 | 415 | 8.67% AVERAGE SOLD PRICE $502,000 | $534,000 | -5.99% 130 DAYS78 47 388 53 AVERAGE ON MARKET-27.7% -5.8% -13.3% +6.9% +51.4% 41 | 19 | 115.79% SOLD/LIST PRICE RATIO INVENTORY IN UNITS 99% | 101% | -2% 10/01/2019
AREA WATERFRONT (SF Only) Q3 2019 | Q3 2018 | % CHANGE
130 -5.8%
4
TOTAL HOMES SOLD 29 | 19 | 52.63% AVERAGE SOLD PRICE $1,944,000 | $2,424,000 | -19.80% 78 47 53 110 AVERAGE DAYS-27.7% ON MARKET388 -13.3% +6.9% +51.4% +18.3% 82 | 29 | 182.76% SOLD/LIST PRICE % INVENTORY IN UNITS 93% | 98% | -5% 10/01/2019
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
110 +18.3%
SEATTLE AREA Area Luxury | Ballard & Green Lake | Capitol Hill
AREA LUXURY
($2+M / SF+C)
Q3 2019 | Q3 2018 | % CHANGE
78 -13.3%
TOTAL HOMES SOLD 59 | 56 | 5.36% AVERAGE SOLD PRICE $2,941,000 | $3,181,000 | -7.54% 47 110 AVERAGE DAYS388 ON MARKET53 -27.7% +6.9% +51.4% +18.3% 59 | 36 | 63.89% SOLD/LIST PRICE RATIO INVENTORY IN UNITS 10/01/2019 97% | 97% | 0%
BALLARD & GREEN LAKE Q3 2019 | Q3 2018 | % CHANGE TOTAL HOMES SOLD 454 | 374 | 21.39% AVERAGE SOLD PRICE $856,000 | $885,000 | -3.28% AVERAGE DAYS ON MARKET 29 | 14 | 107.14% SOLD/LIST PRICE RATIO 100% | 102% | -2%
226
35
63
62
228
130
+12.4%
-10.3%
+14.5%
-13.9%
+14.0%
-5.8%
62
228
130
78
-13.9%
+14.0%
-5.8%
-13.3%
INVENTORY IN UNITS 10/01/2019
CAPITOL HILL Q3 2019 | Q3 2018 | % CHANGE TOTAL HOMES SOLD 45 | 37 | 21.62% AVERAGE SOLD PRICE $1,492,000 | $1,230,000 | 21.30% 226 35 63 AVERAGE DAYS ON MARKET +12.4% -10.3% +14.5% 48 | 25 | 92% SOLD/LIST PRICE % INVENTORY IN UNITS 10/01/2019 97% | 98% | -1%
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
5
SEATTLE AREA Madison Park | Magnolia | NE Seattle
MADISON PARK Q3 2019 | Q3 2018 | % CHANGE TOTAL HOMES SOLD 86 | 88 | -2.27% AVERAGE SOLD PRICE $1,401,000 | $1,443,000 | -2.91% 63 62 AVERAGE DAYS226 ON MARKET35 +12.4% -10.3% +14.5% -13.9% 28 | 19 | 47.37% SOLD/LIST PRICE RATIO INVENTORY IN UNITS 97% | 100% | -3% 10/01/2019
228
130
78
47
+14.0%
-5.8%
-13.3%
-27.7%
MAGNOLIA Q3 2019 | Q3 2018 | % CHANGE TOTAL HOMES SOLD 111 | 81 | 37.04% AVERAGE SOLD PRICE $1,176,000 | $1,219,000 | -3.53% 226 DAYS 35 63 62 228 AVERAGE ON MARKET+14.5% +12.4% -10.3% -13.9% +14.0% 40 | 22 | 81.82% SOLD/LIST PRICE % INVENTORY IN UNITS 10/01/2019 99% | 99% | 0%
130
78
47
388
-5.8%
-13.3%
-27.7%
+6.9%
78
47
388
53
-13.3%
-27.7%
+6.9%
+51.4%
NE SEATTLE Q3 2019 | Q3 2018 | % CHANGE
226 +12.4%
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TOTAL HOMES SOLD 372 | 366 | 1.64% AVERAGE SOLD PRICE $939,000 | $990,000 | -5.15% 35 DAYS 63 228 130 AVERAGE ON MARKET62 -10.3% +14.5% -13.9% +14.0% -5.8% 28 | 17 | 64.71% SOLD/LIST PRICE RATIO INVENTORY IN UNITS 99% | 101% | -2% 10/01/2019
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
SEATTLE AREA South Lake Union & Queen Anne | Seattle Central | West Seattle
SOUTH LAKE UNION & QUEEN ANNE Q3 2019 | Q3 2018 | % CHANGE
63 +14.5%
TOTAL HOMES SOLD 102 | 97 | 5.15% AVERAGE SOLD PRICE 62 228 130 78 47 $1,167,000 | $1,226,000 | -4.81% -13.9% +14.0% -5.8% -13.3% -27.7% AVERAGE DAYS ON MARKET INVENTORY IN UNITS 40 | 21 | 90.48% 10/01/2019 SOLD/LIST PRICE RATIO 98% | 100% | -2%
388
53
110
+6.9%
+51.4%
+18.3%
78
47
388
53
110
-13.3%
-27.7%
+6.9%
+51.4%
+18.3%
SEATTLE CENTRAL Q3 2019 | Q3 2018 | % CHANGE
35 -10.3%
TOTAL HOMES SOLD 180 | 157 | 14.65% AVERAGE SOLD PRICE $891,000 | $974,000 | -8.52% 63 130 AVERAGE DAYS62 ON MARKET228 +14.5% -13.9% +14.0% -5.8% 38 | 23 | 65.22% SOLD/LIST PRICE % INVENTORY IN UNITS 100% | 101% | -1% 10/01/2019
WEST SEATTLE Q3 2019 | Q3 2018 | % CHANGE
62 -13.9%
TOTAL HOMES SOLD 106 | 84 | 26.19% AVERAGE SOLD PRICE $877,000 | $876,000 | .11% 228 DAYS130 47 388 AVERAGE ON MARKET78 +14.0% -5.8% -13.3% -27.7% +6.9% 31 | 18 | 72.22% SOLD/LIST PRICE % INVENTORY IN UNITS 99% | 100% | -1% 10/01/2019
53
110
+51.4%
+18.3%
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
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coldwellbankerbain.com
*Information and statistics derived by CB Bain from the Northwest Multiple Listing Service (NWMLS), Regional Multiple Listing Service (RMLS) and the Multiple Listing Service of Central Oregon (MLSCO) each quarter. Statistics not compiled or published by the NWMLS, RMLS or MLSCO.