June 2010 Market Data Report for north Seattle
In This Post
A look at active, pending and sold listings in north Seattle for the month of June
Reports county wide and nation wide have said that there was a major decrease in the number of homes sold since the stimulus deadline arrived on April 31st. That would indicate that closings would be higher in May and then decrease in June, as most of the April sales would have closed. We've seen a slight decrease in June but the absorption rate remains low, indicating a seller's market still exists here. This, of course is not the seller's market of the 2002-2007 era when pricing ahead of the market (on the up side) was little problem. In this market smart sellers are beating the competition by pricing ahead of the market on the down side. If you want to sell you have to be priced right.
| FAR WEST | NEAR WEST | NEAR EAST | FAR EAST | ALL AREAS | |
| ACTIVE | 157 | 333 | 190 | 140 | 820 |
| PENDING | 60 | 142 | 70 | 58 | 230 |
| CLOSED IN JUNE 2010 | 43 | 92 | 48 | 31 | 214 |
| ABSORPTION RATE | 3.65 | 3.61 | 3.96 | 3.52 | 3.83 |
The absorption rate is the number of months it will take to sell off current inventory. Considering June's number of sales, the northend of Seattle is still in a Seller's market. Rates below 4 are considered so. Rates of 4-6 are considered normal and rates above 6 are considered a Buyer's market.
There is something reassuring about working in a stable market. Sellers have time to put their house in order before selling. Buyers have time to thoroughly check out the house, the neighborhood, their financing and all of the factors that go into a shift to homeownership. I'd be happy to spend some time with you and go over the details necessary for making a wise decision in the north Seattle real estate market.
Glenn Roberts, SRES*
Lake and Company Real Estate
206-524-3665
Seattle Residential ~ I Do That
Licensed broker since 1985 offering spectacular service to buyers and sellers in greater Seattle, with particular interest in Green Lake, Ballard, Phinney Ridge, Wallingford, Ravenna, Bryant, View Ridge, Roosevelt and the University District.
*Senior Real Estate Specialist
Referrals from past clients and other agents always make me smile.
Well you certainly did your homework sir............looks like things are pretty stable in your area. Get those listings Glenn and price them right!
Glenn, Your absorption rates look great compared to ours...
Can you believe it's the 5th of July?
Paul
Roger - I keep up on the data wondering when the shift is going to occur.
Hi Paul, Let me pull my sweater sleeve up and look at my watch.