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SEATTLE Q3

AREA

MARKET

REPORT

Based on information from the NWLMS, data reflects sales of single family homes and condos between 7/1/19 and 9/30/19.

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SEATTLE AREA

J

ohn Deely, Principal Managing Broker of Lake Union and Madison Park, said, “The third- quarter Seattle residential market for the selected areas continued a strong showing for 2019. Record low interest rates helped propel buyers into the market as prices leveled off, compared to previous years. Overall, the Seattle areas had a decrease in inventory when compared to the same quarter last year. Most Seattle zip codes are recording an increase in market time as buyers approached the market with a more relaxed attitude. The condominium, Seattle luxury market and the Seattle waterfront continued to increase in inventory during the third quarter.

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Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT

The Seattle luxury market ($2.5M +) had an 18%+ increase in listings with an average market time of 59 days. There was a total of 59 closings in the luxury market during the third quarter. The Seattle waterfront, residential market had a 51%+ increase in listings with an average market time of 110 days. There were 29 closings in the Seattle waterfront, residential market during the third quarter, with the average price at $1,944M. The selected Seattle condo market had a 6.9%+ increase in listings with 388 properties on the market and an average market time of 41 days. There were 451 closings in the Seattle condo market during the third quarter with the average price at $520,000.�


SEATTLE AREA Ballard - Green Lake | Capitol Hill | Madison Park | Magnolia | NE Seattle Seattle Central | South Lake Union - Queen Anne | West Seattle SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

AVERAGE SOLD PRICE (Nearest $000)

AVERAGE DOM

Seattle Area

$981,000

32

Ballard/Green Lake

$856,000

29

Capitol Hill

$1,492,000

48

Madison Park

$1401,000

28

Magnolia

$1,176,000

40

NE Seattle

$939,000

28

Seattle Central

$891,000

38

S. Lake Union/ Queen Anne

$1,167,000

40

West Seattle

$877,000

31

Area Condos

$502,000

41

Area Waterfront (SF Only) Area Luxury ($1+M | SF+C)

$1,944,000

82

$2,941,000 $4,265,000 $0 $500

59 $1m

$1.5m

$2m

$2.5m

$3m

NUMBER OF SALES CLOSED 500

1456

400

454

TOTAL SALES CLOSED

451

300

372

200 100

180

45 86

111

Madison Park

Magnolia

0 Ballard / Green Lake

Capitol Hill

NE Seattle

Seattle Central

102

106

S. Lake Union/ Queen Anne

West Seattle

29 Area Condos

Area Waterfront

59

Area Luxury ($2+M / SF+C)

(SF Only)

INVENTORY IN UNITS - 10/01/2019

Total Eastside Inventory

869

+1.0%

226

35

63

62

228

130

78

47

388

53

110

+12.4%

-10.3%

+14.5%

-13.9%

+14.0%

-5.8%

-13.3%

-27.7%

+6.9%

+51.4%

+18.3%

Ballard / Green Lake

Capitol Hill

Madison Park

Magnolia

NE Seattle

Seattle Central

West Seattle

Area Condos

Area Waterfront

Area Luxury

S. Lake Union/ Queen Anne

Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT

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SEATTLE AREA Total Seattle Area | Area Condos | Area Waterfront

SEATTLE AREA Q3 2019 | Q3 2018 | % CHANGE TOTAL HOMES SOLD 1456 | 1284 | 13.4% AVERAGE SOLD PRICE $981,000 | $1,020,000 | -3.82% AVERAGE DAYS ON MARKET 32 | 18 | 77.78% SOLD/LIST PRICE % INVENTORY IN UNITS 99% | 100% | -1% 10/01/2019

AREA CONDOS Q3 2019 | Q3 2018 | % CHANGE

228 +14.0%

TOTAL HOMES SOLD 451 | 415 | 8.67% AVERAGE SOLD PRICE $502,000 | $534,000 | -5.99% 130 DAYS78 47 388 53 AVERAGE ON MARKET-27.7% -5.8% -13.3% +6.9% +51.4% 41 | 19 | 115.79% SOLD/LIST PRICE RATIO INVENTORY IN UNITS 99% | 101% | -2% 10/01/2019

AREA WATERFRONT (SF Only) Q3 2019 | Q3 2018 | % CHANGE

130 -5.8%

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TOTAL HOMES SOLD 29 | 19 | 52.63% AVERAGE SOLD PRICE $1,944,000 | $2,424,000 | -19.80% 78 47 53 110 AVERAGE DAYS-27.7% ON MARKET388 -13.3% +6.9% +51.4% +18.3% 82 | 29 | 182.76% SOLD/LIST PRICE % INVENTORY IN UNITS 93% | 98% | -5% 10/01/2019

Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT

110 +18.3%


SEATTLE AREA Area Luxury | Ballard & Green Lake | Capitol Hill

AREA LUXURY

($2+M / SF+C)

Q3 2019 | Q3 2018 | % CHANGE

78 -13.3%

TOTAL HOMES SOLD 59 | 56 | 5.36% AVERAGE SOLD PRICE $2,941,000 | $3,181,000 | -7.54% 47 110 AVERAGE DAYS388 ON MARKET53 -27.7% +6.9% +51.4% +18.3% 59 | 36 | 63.89% SOLD/LIST PRICE RATIO INVENTORY IN UNITS 10/01/2019 97% | 97% | 0%

BALLARD & GREEN LAKE Q3 2019 | Q3 2018 | % CHANGE TOTAL HOMES SOLD 454 | 374 | 21.39% AVERAGE SOLD PRICE $856,000 | $885,000 | -3.28% AVERAGE DAYS ON MARKET 29 | 14 | 107.14% SOLD/LIST PRICE RATIO 100% | 102% | -2%

226

35

63

62

228

130

+12.4%

-10.3%

+14.5%

-13.9%

+14.0%

-5.8%

62

228

130

78

-13.9%

+14.0%

-5.8%

-13.3%

INVENTORY IN UNITS 10/01/2019

CAPITOL HILL Q3 2019 | Q3 2018 | % CHANGE TOTAL HOMES SOLD 45 | 37 | 21.62% AVERAGE SOLD PRICE $1,492,000 | $1,230,000 | 21.30% 226 35 63 AVERAGE DAYS ON MARKET +12.4% -10.3% +14.5% 48 | 25 | 92% SOLD/LIST PRICE % INVENTORY IN UNITS 10/01/2019 97% | 98% | -1%

Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT

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SEATTLE AREA Madison Park | Magnolia | NE Seattle

MADISON PARK Q3 2019 | Q3 2018 | % CHANGE TOTAL HOMES SOLD 86 | 88 | -2.27% AVERAGE SOLD PRICE $1,401,000 | $1,443,000 | -2.91% 63 62 AVERAGE DAYS226 ON MARKET35 +12.4% -10.3% +14.5% -13.9% 28 | 19 | 47.37% SOLD/LIST PRICE RATIO INVENTORY IN UNITS 97% | 100% | -3% 10/01/2019

228

130

78

47

+14.0%

-5.8%

-13.3%

-27.7%

MAGNOLIA Q3 2019 | Q3 2018 | % CHANGE TOTAL HOMES SOLD 111 | 81 | 37.04% AVERAGE SOLD PRICE $1,176,000 | $1,219,000 | -3.53% 226 DAYS 35 63 62 228 AVERAGE ON MARKET+14.5% +12.4% -10.3% -13.9% +14.0% 40 | 22 | 81.82% SOLD/LIST PRICE % INVENTORY IN UNITS 10/01/2019 99% | 99% | 0%

130

78

47

388

-5.8%

-13.3%

-27.7%

+6.9%

78

47

388

53

-13.3%

-27.7%

+6.9%

+51.4%

NE SEATTLE Q3 2019 | Q3 2018 | % CHANGE

226 +12.4%

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TOTAL HOMES SOLD 372 | 366 | 1.64% AVERAGE SOLD PRICE $939,000 | $990,000 | -5.15% 35 DAYS 63 228 130 AVERAGE ON MARKET62 -10.3% +14.5% -13.9% +14.0% -5.8% 28 | 17 | 64.71% SOLD/LIST PRICE RATIO INVENTORY IN UNITS 99% | 101% | -2% 10/01/2019

Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT


SEATTLE AREA South Lake Union & Queen Anne | Seattle Central | West Seattle

SOUTH LAKE UNION & QUEEN ANNE Q3 2019 | Q3 2018 | % CHANGE

63 +14.5%

TOTAL HOMES SOLD 102 | 97 | 5.15% AVERAGE SOLD PRICE 62 228 130 78 47 $1,167,000 | $1,226,000 | -4.81% -13.9% +14.0% -5.8% -13.3% -27.7% AVERAGE DAYS ON MARKET INVENTORY IN UNITS 40 | 21 | 90.48% 10/01/2019 SOLD/LIST PRICE RATIO 98% | 100% | -2%

388

53

110

+6.9%

+51.4%

+18.3%

78

47

388

53

110

-13.3%

-27.7%

+6.9%

+51.4%

+18.3%

SEATTLE CENTRAL Q3 2019 | Q3 2018 | % CHANGE

35 -10.3%

TOTAL HOMES SOLD 180 | 157 | 14.65% AVERAGE SOLD PRICE $891,000 | $974,000 | -8.52% 63 130 AVERAGE DAYS62 ON MARKET228 +14.5% -13.9% +14.0% -5.8% 38 | 23 | 65.22% SOLD/LIST PRICE % INVENTORY IN UNITS 100% | 101% | -1% 10/01/2019

WEST SEATTLE Q3 2019 | Q3 2018 | % CHANGE

62 -13.9%

TOTAL HOMES SOLD 106 | 84 | 26.19% AVERAGE SOLD PRICE $877,000 | $876,000 | .11% 228 DAYS130 47 388 AVERAGE ON MARKET78 +14.0% -5.8% -13.3% -27.7% +6.9% 31 | 18 | 72.22% SOLD/LIST PRICE % INVENTORY IN UNITS 99% | 100% | -1% 10/01/2019

53

110

+51.4%

+18.3%

Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT

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*Information and statistics derived by CB Bain from the Northwest Multiple Listing Service (NWMLS), Regional Multiple Listing Service (RMLS) and the Multiple Listing Service of Central Oregon (MLSCO) each quarter. Statistics not compiled or published by the NWMLS, RMLS or MLSCO.

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Seattle Area Real Estate Market Report - Q3 - 2019  

Seattle Area Real Estate Market Report - Q3 - 2019