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, 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.
Glenn, I am always encouraged when I look at housing statistics from areas of Seattle. The 19 pending sales is excellent in my neck of the woods. I'm hoping that our summer numbers resemble your February numbers...
Paul - I'm hoping we all see increased numbers on the sales closed side of the ledger. Young buyers are starting to see that beating your friends into the housing market will be better than following them.
Nice to see light rail continuing to expand. The last time I was in Seattle, 1999, I rode the rails everywhere they went!
Russel - You can now get from the airport to downtown for a couple of bucks, and in the coming years that will extend to Northgate.
Hi Glenn. Very nice market report. That’s quite a jump in Pending sales from January’s 6 to February’s 19. I hope that does bode well for Spring activity. In our area, I suspect that home prices have pretty much bottomed out, and so have interest rates, as you note. If there are buyers/sellers sitting on the fence, now may be a pretty good time to take the plunge.
Signs of Spring, BIll, coming our way.