Windermere Real Estate
Market Review
Seattle Metro A special report on residential real estate sales in King County for Second Quarter 2014 / April through June
w Windermere Real Estate/Wall St., Inc.
Second Quarter 2014 From the NWMLS, June release - KIRKLAND, WA. Housing Market Righting Itself as Buyers, Brokers Get Creative to Compete With demand outpacing supply in many parts of the region, brokers are noticing more creativity among competing parties. “Offer review deadlines have become pretty commonplace in this market, as have pre-inspections,” said OB Jacobi, president of Windermere Real Estate. He said some agents and buyers are getting even more aggressive by submitting their offer prior to the deadline. Jacobi said there’s also an increase in the number of cash buyers, and buyers willing to waive their financing contingency, “making it even more difficult for the vast majority who don’t have this option.” With ongoing competition likely to continue, Jacobi expects agents and buyers to be “increasingly creative until the market becomes more balanced, which probably isn’t going to happen any time soon.” Area
SEATTLE CORE Downtown, Belltown 701
Number of Homes Sold Q2
Average Sold Price
Average List Price
Days on market DOM
Houses
Condos
Houses
Condos
Houses
Condos
Houses
Condos
NA
107
NA
$550,404
NA
$566,383
NA
56
125
82
$883,549
$364,535
$882,800
$364,348
15
25
380
71
$561,313
$302,441
$543,378
$303,914
15
24
239
37
$607,443
$252,151
$591,699
$248,828
17
18
177
111
$838,359
$402,180
$833,646
$410,996
20
36
121
1
$511,887
$225,000
$509,540
$234,950
28
152
71
8
$368,431
$238,606
$365,337
$239,725
23
11
311
38
$443,966
$317,900
$437,963
$321,984
22
47
IN-CITY Queen Anne, Magnolia 700
NW SEATTLE Ballard, GreenLake, Fremont, Wallingford 705
NE SEATTLE View Ridge, Maple Leaf, Northgate 710
CENTRAL SEATTLE Capitol Hill, Central District, Madison Park 390
SE SEATTLE Mt Baker, Leschi Columbia City, Seward Park, Rainier 380
SE SEATTLE Beacon Hill, SODO Georgetown 385
WEST SEATTLE 140
All data compiled from Northwest Multiple Listing Service, this information is deemed reliable, but is not a guarantee nor is it guaranteed, and should be verified to your satisfaction.
Second Quarter 2014 Residential Home For Sale vs. Sold Report for the past 13 months •
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The For Sale numbers are the snapshot of the number of property for sale at the end of the month. The Pended numbers represent the number of properties that went into the "pending" status in that month. The Sold numbers represent the number of properties that are sold on a particular month.
Condominium For Sale vs. Sold Report for the past 13 months What Does For Sale vs. Sold Report Do? • It helps determine the trend of market supply and demand. • It helps determine whether the current market is a seller or buyer market. • It helps determine the minimum length of the listing period. • It helps identify which price range the majority of the properties are in, within a given area. • It helps focus on where the buyer's activities are and the market conditions.
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Windermere Real Estate/Wall Street Inc. 2420 2nd Avenue Seattle, WA 98121