Ravenna January 2011 Market Report
Closings in any January are usually down because December is often a slow month. And this year is no exception. And, usually, many listings that haven’t sold go off the market at the end of the year. Sellers assess what their future holds and some decide to wait until “Spring” to re-list. Some rent their properties out hoping for better times. The smart ones are often the ones who stay on the market during a time of reduced inventory.
|
Status |
# |
Low $ |
High $ |
Average |
Median |
Days on Market |
|
Active |
21 |
144,950 |
655,000 |
417,869 |
425,000 |
77 |
|
Pending Inspection |
6 |
133,500 |
530,000 |
390,250 |
407,000 |
39 |
|
Under Contract |
2 |
375,000 |
535,000 |
455,000 |
455,000 |
24 |
|
Sold |
5 |
247,500 |
800,000 |
431,700 |
387,000 |
69 |
With 5 closed sales and only 21 active listings, the Absorption Rate is just a hair over 4. Definitely a seller’s market. I know there will be more homes coming on the market in the months ahead, but if you are prepared, now might just be the time.
For in-city Seattle north of the ship canal the statics include 116 closed sales, 211 pending sales and 743 active listings, for an Absorption rate of 6.4
This report includes single family homes, townhomes and condominiums.
You can see the listings included:
Ravenna Market Report.
With 8 possible closings if February and the current shortage of listings I look forward to a month that will not be as busy as it could be unless more sellers put their homes on the market.
People talk about shadow inventory, foreclosures, short sales and REO’s, and try to predict where the market is going and what will happen next. Rest assured that it is not going anywhere with any great speed. If you desire to buy or sell, now is as good as anytime in the foreseeable future.
This lovely house sold and closed in January of 2011 for $800,000 in Ravenna Park, directly across from the park.
If you live in the Seattle area, and in particular the north Seattle and the Ravenna or Ravenna Park areas, give me a call and let’s discuss how to resolve your real estate issues.
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.
A very detailed presentation on activity in your market area!
Anthony - Ravenna is selling well. Even the condos seem to get plenty of activity.
Glenn, sound like the time is right to buy a home in your area, good luck!
Your Friend in Charlottesville
Charles - It's an even better time to sell in some spots.
Glenn, What a nice detailed report! I'm slightly jealous of your 4 months absorption rate.
Hi Glenn,
Good post and very nice presentation.
It was easy to read, and great information.
I love the picture of the house you used. Not taken in January, I presume...
Phil
Glenn: Thanks for this. It's nice to get such a local report. I never asked. Do you live in Ravenna? My cousin and his family do. Also, I wanted to let you know I posted another blog to the group you created if you'd like to comment. Take care.
Christine - I'm hoping to see more good listings to help get the buyers stirred up a bit.
Phil - It's in an area I walk frequently and I took several pictures last year thinking about curb appeal.
Paul - I did comment on your Day in the Life article. Link to it on Facebook and I'll like it there as well.
Just stopping by to invite you to the 2nd Annual ActiveRain Super Bowl Party. Hope you’ll come and bring some friends!
Hi Glenn - great job rounding these up:) Your presentations are getting better and better - very cool:)
Courtney - Practice, practice
Great neighborhoods I think will always do well in any market. What a beautiful home, by the way, with curb appeal to the max. Great post. Seattle is blessed with so many wonderful and unique neighborhoods. No matter if times in general seem good or not, there will always be a demand for those who simply want what they want and seize the opportunity.
René - I always agree when the consensus is that real estate is local.