Uncategorized August 18, 2017

Queen Anne, Seattle Real Estate Market Report

If you are thinking of buying or selling Queen Anne, Seattle real estate, knowing the current market conditions are necessary for a successful real estate experience. As a seller, you can be aware of what is an appropriate price to list your Queen Anne, Seattle home for sale. This is actually one of the most important things you will do when listing a property. After selecting a qualified Queen, Seattle realtor of course. When you price too high, you risk your Queen Anne, Seattle home for sale sitting on the market too long. This can cause people to think that there is something wrong with the home and results in prospective buyers passing over it completely. If you price it too low in hopes of starting a bidding war (which is a very common thing in the current Seattle real estate market), you could end up leaving money on the table if you pick the wrong bid. Truthfully, when you list at a fair market value, you actually have a better chance of your home selling quicker and for more money. Discussing pricing with your Queen Anne, Seattle realtor ensures you have the most accurate information to come up with that perfect number. As a buyer, you can use these stats to help guide your purchasing and negotiation power.  So how is the market looking in the Queen Anne neighborhood? Let’s take a look:

Both the average and median sold price for Queen Anne, Seattle real estate is up! The average is up $887,239 (up 15.9% this time last year) and the median is up 14.6% at $785,000. New listings are also up 3.6% which isn’t a big increase but still great news for buyers. Pending sales are up 17.7% and closed sales are up 17.8%. The two things that are down are the days on market and the month supply. Both of which indicate that this neighborhood is in a seller’s market. The median days on the market is 9 days, which is a quick sale! The average is 17, which is still fast considering the national average is still around 40 days. The month supply is also incredibly low at 1.10. In order for the market to be considered balanced, there should really be a 6 month supply. Of course these statistics change every month, so it is important to stay in close contact with your Queen Anne, Seattle realtor. They can help you navigate how to successfully buy or sell a Queen Anne, Seattle home for sale.

For more information on Queen Anne, Seattle real estate, give us a call! Our team would be happy to help.