Ravenna- Roosevelt February 2011 Market Report
There were 5 closings of residential property in the Ravenna and Roosevelt neighborhoods of Seattle during February. And, I am not surprised. Last month end I reported that there were only 6 pending sales. I am much encouraged by the 19 pending sales on the books for the short month. The numbers are slightly skewed since I’ve combined Roosevelt and Ravenna for this report as well as keeping condos in with the single family units. Because of the light rail station now under construction in this neighborhood I expect to see growth beyond expectations.
|
Status |
# |
Low $ |
High $ |
Average |
Median |
Days on Market |
|
Active |
36 |
129,950 |
748,000 |
411,532 |
425,000 |
74 |
|
Pending Inspection |
10 |
133,000 |
839,500 |
549,407 |
37 |
|
|
Under Contract |
9 |
300,000 |
839,500 |
466,483 |
425,000 |
36 |
|
Sold |
5 |
315,000 |
710,000 |
465,660 |
439,000 |
30 |
With 19 contracts compared to the 36 active listings we should see more sellers in this area take the plunge. There is a pent up demand by buyers who have been waiting for interest rates to bottom out.
For in-city Seattle north of the ship canal the statics include 57 closed sales in February, 143 pending sales and 344 active listings, for an Absorption rate of 6.0. All of these numbers are lower than last month.
This report includes single family homes, townhomes and condominiums.
You can see the active listings included: Ravenna Roosevelt February 2011 Market Report.
With 19 possible closings if March and the current shortage of listings I look forward to a month that will busy as more sellers will probably put their homes on the market.
If you live in the Seattle area, and in particular the North Seattle and the Ravenna or Roosevelt areas, give me a call and let’s discuss how to resolve your real estate issues.
Glenn Roberts
Retired
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