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Windermere Real Estate

Market Review

Seattle Metro A special report on residential real estate sales in King County for First Quarter 2014 / January through March

w Windermere Real Estate/Wall St., Inc.


First Quarter 2014 From the NWMLS, March release - KIRKLAND, WA.

Home Sales Shrink: Buyers take a timeout due to inventory shortages. With increasing equity, many current homeowners are expected to come into the market. “This is the year of the move-up seller,” declared MLS director John Deely. He believes many people who currently own a home will move into a “nicer home, a bigger home, or a home in a different part of town.” People who didn’t have enough equity in their house, or didn’t have enough confidence in the economy, didn’t move up the past few years, said Deely. “We are going to see these people start to come to the market this spring. This is going to be a phenomenal year—not just an average year—a phenomenal year,” he remarked.

Area

Number of Homes Sold Q1

SEATTLE CORE Downtown, Belltown 701

Average Sold Price

Average List Price

Days on market DOM

Houses

Condos

Houses

Condos

Houses

Condos

Houses

Condos

NA

100

NA

$679,046

NA

$691,235

NA

66

122

90

$786,151

$358,664

$787,755

$362,743

36

46

349

76

$519,839

$308,924

$512,151

$312,579

24

41

200

38

$567,941

$215,113

$560,288

$207,787

29

46

126

105

$789,282

$361,264

$801,587

$364,094

46

43

142

5

$422,492

$161,090

$421,668

$159,200

39

66

63

9

$357,268

$217,000

$355,584

$222,550

32

38

280

38

$438,849

$287,690

$441,811

$293,587

39

61

IN-CITY Queen Anne, Magnolia 700

NW SEATTLE Ballard, GreenLake, Fremont, Wallingford 705

NE SEATTLE View Ridge, Maple Leaf, Northgate 710

CENTRAL SEATTLE Capitol Hill, Central District, Madison Park 390

SE SEATTLE Mt Baker, Leschi Columbia City, Seward Park, Rainier 380

SE SEATTLE Beacon Hill, SODO Georgetown 385

WEST SEATTLE 140

All data compiled from Northwest Multiple Listing Service, this information is deemed reliable, but is not a guarantee and should be verified to your satisfaction.


First Quarter 2014 Residential Home For Sale vs. Sold Report for the past 13 months •

The For Sale numbers are the snapshot of the number of property for sale at the end of the month. The Pended numbers represent the number of properties that went into the "pending" status in that month. The Sold numbers represent the number of properties that are sold on a particular month.

Condominium For Sale vs. Sold Report for the past 13 months What Does For Sale vs. Sold Report Do? • It helps determine the trend of market supply and demand. • It helps determine whether the current market is a seller or buyer market. • It helps determine the minimum length of the listing period. • It helps identify which price range the majority of the properties are in, within a given area. • It helps focus on where the buyer's activities are and the market conditions.

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2014 Q1 Market Review - Kris Hendricks