July 2018

JULY REAL ESTATE BLOG

July was a very busy month in our neighborhood with some interesting market developments. First of all for the first time in approximately 5 years we had 15 active listings in July! Across the city more properties have been coming on the market, however the market has slowed resulting in an increase in days on market and more price reductions than we have seen. In July, 9 of the 15 active listings in Laurelhurst have been on the market for greater than 17 days. This is a marked change from our spring market or, for that matter from the past few years.

Second, the number of multiple offers are decreasing and in fact many homes are not receiving offers on their review dates. What does this mean for sellers? If you are planning to list your home in the next few months I would suggest being a bit more conservative in your pricing. You need to say to yourself, if I list my home at this price and that is the offer I receive will I be satisfied? ┬áSeller’s have become used to multiple offers driving their list price up, suddenly this is no longer the case, so I would suggest caution in pricing. The last thing a seller wants is double digit days on market. This sends a signal to potential buyers that the home is overpriced and that there is room to negotiate.

With that said the median sold price in Laurelhurst for July of 2018 was $1,720,000 compared to July of 2017 which was $1,537,500.

Have a great remainder of your summer!

Kim

ACTIVE LISTINGS

 

Address List Price Beds/

Baths

Year

Built

Sq.Ft CDOM Price

p/sq.ft

5005 48th Ave NE $950,000 3/1.75 1960 1,950 4 $487.18
4526 48th Ave NE $1,049,000 3/2.25 1943 1,860 9 $563.98
5107 46th Ave NE $1,165,000 4/2 1943 2,695 18 $432.28
*4535 NE 41st St $1,195,000 4/2.75 1933 2,070 8 $577.29
*4202 43rd Ave NE $1,198,000 4/1.75 1946 2,758 3 $434.37
4114 36th Ave NE $1,495,000 4/3.25 1946 3,180 52 $470.13
4826 NE 41st St $1,550,000 4/2.25 1930 3,300 87 $469.70
4011 50th Ave NE $1,675,000 4/2.25 1929 2,410 8 $695.02
3915 51st Ave NE $2,390,000 4/3.5 2003 4,190 52 $570.41
4215 55th Ave NE $2,400,000 6/3.25 1958 3,760 8 $638.30
4214 53rd Ave NE $2,450,000 4/3 1916 3,671 17 $667.39
3011 E Laurelhurst Dr $2,995,000 4/3.5 1908 5,380 57 $556.69
3516 46th Ave NE $3,087,000 6/4.5 1921 4,400 49 $701.59
5020 NE 45th St $4,750,000 5/5.5 1969 8,710 167 $545.35
3054 E Laurelhurst Dr NE $11,800,000 5/4.75 1928 7,683 693 $1,535.86

*listed and under contract in July

 

CONTINGENT IN JULY

 

Address List Price Beds/

Baths

Sq.Ft. CDOM
4239 51st Ave NE $1,795,000 6/3.25 2,980 28

 

PENDING IN JULY

 

Address List Price Beds/

Baths

Sq.Ft. CDOM
*4535 NE 41st St $1,195,000 4/2.75 2,070 8
*4202 43rd Ave NE $1,198,000 4/1.75 2,758 3
3844 Surber Dr NE $1,200,000 3/1.75 1,690 11
3201 43rd Ave NE $11,750,000 4/6 8,562 41

*Listed and under contract in July

 

SOLD IN JUNE

 

Address List Price Sale Price CDOM Beds/

Baths

Sq.Ft Price

p/sq.ft

Date Sold
5042 Harold Pl NE $1,065,000 $1,075,000 23 2/1.75 1,930 $556.99 7/17
5029 44th Ave NE $1,150,000 $1,203,088 2 3/3.25 2,091 $575.36 7/9
4133 42nd Ave NE $1,500,000 $1,500,000 12 5/2.75 2,720 $551.47 7/10
4316 36th Ave NE $1,599,000 $1,520,000 28 8/4 3,650 $416.44 7/31
5112 46th Ave NE $1,995,000 $1,920,000 33 4/3.25 3,509 $547.16 7/24
4537 49th Ave NE $1,949,500 $1,949,500 6 5/3.5 3,790 $514.38 7/5
3908 NE 38th St $2,295,000 $2,250,000 4 3/2 2,800 $803.57 7/31
3315 E Laurelhurst Dr NE $2,495,000 $2,392,500 19 5/3.25 4,270 $560.30 7/5
Averages $1,726,261 16 $565.71

 

Median Sales Price = $1,720,000

CDOM = Cumulative Days on Market

 

Posted on January 8, 2019 at 9:46 pm
Kim O. Dales | Category: Uncategorized

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