Guide To Seattle Real Estate

Well we are two weeks into the new year. What has been going on in our market in the last 13 days?

In West Seattle (MLS area 140)

Single Family Residential Homes
459 Active Listings with a Median Price of $450,000
76 Average Days on Market(DOM)
55 Homes under 300k for First-Time Buyers
20 Pending Listings with an average DOM of 53 and Median Price of $454,475
25 Sold Listing with an average DOM of 77 and Median Price of $370,000

So what does this all mean to you?  The real market movement is in the Pending Listings.  Judging the current market situation is all about the pending listings.  The buyers  are in the 450k realm and are buying homes that are priced and shown well.  When the DOM of the Pending homes and the Active listings are compared we notice a 23 day difference.  Why? What makes these homes standout over the rest? Price and Condition. The homes that are selling in this market present well and are priced right!

The Sold Statistics are also interesting with a median price of $370k.  These homes went under contract in December and Title was just transferred.  Why is the Sold Median so low compared to the Active Median?  Speculation leads us to believe that First-time buyers are more likely to buy a home regardless of season.  Established Families with school aged children moving up to their second home are more likely to buy during the late Spring and Summer months.

How many two week periods like this do we have on the market? 459/20=23 or 10 months.  That is if these two weeks are indicative of the rest, they are not.  The market will pick up as we move away from the holidays.

If you are interested in a Custom Statistical Analysis of your neighborhood send an email to jonathanmartin@windermere.com or drop me a line at 206-579-5605.  I would be happy to take a look at what your local conditions are.