Ravenna-Roosevelt May 2011 Market Report
The 16 closings in May was double that of the 8 closings of residential property in the Ravenna and Roosevelt neighborhoods of Seattle during April. Surely a good sign that the people who took the plunge actually made it to the closing table. Active listings have been pretty steady for the past three months coming in currently at 33 . We still could use more inventory in these neighborhoods. There are buyers out there looking for homes.
|
Status |
# |
Low $ |
High $ |
Average |
Median |
Days on Market |
|
Active |
33 |
170,000 |
775,000 |
493,004 |
459,000 |
59 |
|
Pending Inspection |
10 |
159,950 |
528,000 |
335,070 |
355,00 |
36 |
|
Under Contract |
19 |
144,500 |
839,500 |
471,579 |
425,000 |
39 |
|
Sold |
16 |
300,000 |
640,000 |
442,538 |
415,000, |
30 |
Last month there were 25 listings pending inspection or otherwise resolved and just waiting to close. Now there are 29 such properties, so expect June totals to be up slightly.
For in-city Seattle north of the ship canal the statics include 219 closed sales in April, 469 pending sales (up 130) and 912 active listings up 121 since last month. Absorption rate is now 4.2.Still a sellers market.
This report includes single family homes, townhomes and condominiums.
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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Gorgeous image and nice, big. Super run down of the local real estate market pulse too!
Andy, I'm happy we still have a pulse after todays Case-Shiller report.
Glenn, Nice clear summary of the local neighborhoods! Keep up the great work!
Bilz - I'd like to see a few more sales but we'd need more inventory for that. No on seems to want to leave these two neighborhoods.
Glenn, really informative report of your area...things seem to be moving along in your market...the DOM seem very reasonable.
Nick - Those that have sold quickly were almost always priced right. The others are living with false hopes.
Glenn, That no one leaving can make it a challenge for comps! You know what it SHOULD be worth, but the buyers agents go low because they can't "prove" it! :)
Bliz - Marjie and are working on a CMA for another area near here and the home is $700K-750K but there are no sold comps. Some things not as nice that aren't/didn't sell, some better homes over $800K, and some smaller homes under $600K. I'd pull my hair out (if I had any) for some valid comps. Who knows what an appraiser will use?
We just need more people who want to move. Then we'll have some comps.
Glen, just another example that buyers and sellers shouldn't be believing everything they here in the news. It sounds like your market is picking up.
I like the picture of the trees in bloom.
Seems like things are moving! Love the Cherry trees!!! My daughter just enjoyed a week up in your area - went to a folk festival, the wharf and market, the University district, countless restaurants. She's all ready to move...except she's not old enough. Ha!
Glen very informative market report for Ravena-Roosevelt. Homes seem to be selling fast can't remember when last the DOM was 30 days for sold properties.
Sondra - People should operate in terms of what timing is good for them and stop playing market games.
Cara - Hope you daughter had a good time., Sounds like it.
Jennifer - 30 DOM is a darn good average.