Uncategorized April 23, 2018

Queen Anne, Seattle Real Estate Update

If you are thinking of listing or buying Queen Anne, Seattle homes for sale, knowing the market is necessary for success. Queen Anne, Seattle realtors use details like days on market, average sold price, month supply and more to educate our clients on what makes an attractive offer as well as an attractive list price. As a seller, knowing these numbers before you list your Queen Anne, Seattle real estate can properly prepare you for the market. You need to list at an appropriate market price but you also need an idea of how quickly homes for sale in Queen Anne, Seattle are moving. As a buyer, you can use these numbers to come up with a competitive offer. The best way to get these details are from a Queen Anne, Seattle realtor.  So how is this particular neighborhood doing? Let’s take a look!

The average sold price for Queen Anne Seattle real estate has increased 9.7% and is currently at $934,044. This median sold price has increased 9.3% and is currently at $825,000. These prices are both up from this time last year AND just last month. The average price per square foot is up 17.2% at $546. The percentage of list price is now at 105%. This means on average, homes for sale in Queen Anne, Seattle are closing with over asking offers.

Queen Anne, Seattle real estate has seen a decrease in new listings by 8.6%. Unfortunately, Queen Anne, Seattle homes for sale have also gone down in general 15.9%. Pending Queen Anne, Seattle homes for sale have gone down by 2.3% and closed sales are up 3.1%. Median days on market are 9 and the average is 20. Obviously with the increase in pricing and the rate that homes are getting offers, we know that this market is competitive. A few tips we can offer are to not take your time thinking about it if you are a buyer. This just allows the sellers time to accept another offer. As a seller, prepare yourself for a quick move and plan accordingly when you are prepping your home for he market. Your Queen, Anne Seattle realtor can help you with both the aspects of selling and buying so both parties are prepared to move fast.

This is all to be expected when you are in a seller’s market like this neighborhood is. A Queen Anne, Seattle real estate market needs a 6 month supply in order to be considered balanced. Anything less than 4 is considered in favor of the seller. Currently, this market is at a 1, which is actually down a bit from last month. Our only advice for navigating this market is using an experienced Queen Anne, Seattle realtor. If you have any questions on this neighborhood, both buying and selling, let us know. We would be happy to help!