Seattle Residential: I Do That: Washington

Ravenna Homes for Sale: Market Report

Ravenna Homes for Sale: Market Report

In This Post

A trend developing in Ravenna and the whole north Seattle area.

 

Ravenna Homes for Sale: Market Report

There are currently 38 single family homes for sale in the Ravenna neighborhood of Seattle. There are 7 homes now under contract with an astonishing average listing price of $579,000. The average market time for these 7 homes is less than 30 days. There seems to be a renaissance in the move up market in this area. I mentioned my findings to my broker yesterday and he said that he is seeing fast sales on well-prepared, well-priced properties in the $600-900K range all across north Seattle.

Ravenna pending at $769,900   Ravenna Pending at $749,000

There have been 5 properties in Ravenna which have closed since September 1st, and the highest of these was for $500,000. Three of the closed properties sold for less than $400,000.

I have a client who is going to be selling a home in a Seattle suburb  for about a $300,000 loss in perceived value. He wants to buy in Seattle and hopes to find a property taking a similar loss. Hopefully we can find something soon as this current trend may push into the higher end as well.

Seattle has seen excellent job growth and the potential for more recently. Facebook is opening a Seattle office. A new biotech firm is moving to South Lake Union. Paul Allen has many of his properties in SLU under construction with leases or sales negotiated with other companies expanding here. All of that bodes well for the near north neighborhoods or Bryant, Ravenna, Green Lake, Phinney Ridge, Fremont and Ballard.

If you are interested in purchasing a home in Ravenna or any of the north Seattle neighborhoods, let's talk.

 

 

 

 

Glenn Roberts
Retired

 

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Comment balloon 4 commentsGlenn Roberts • September 23 2010 11:44AM
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