The median sale price for single-family homes in NW Seattle was $420,000 for November compared to $379,000 for November of 2011. The average sale price for NW Seattle was $438,838 for November versus just $420,285 in November 2011.
Wallingford single family sale prices ranged from $380,000 to $1,049,000 with a median sale price of $670,000 and an average sale price of $633,523. The average final sale price for Wallingford homes sold in October was almost 102% of the most recent list price with a number of homes selling for above list price indicating a likely multiple offer situation.
The overall supply of NW Seattle homes in November was just 1 month of inventory compared to a 3 month supply for November 2011. A less than a 3 month supply of homes is considered a Seller’s market.
The average time on market for homes that sold in November was 31 days for all of NW Seattle and 35 days for Wallingford though the Wallingford number was inflated by a single home that was on the market for 230 days before selling. Many of the Wallingford sales were under contract in under a week.
More stats on North Seattle real estate can be found at http://www.live206.com/seattle-area-market-update-c21537.html
John Madrid is a Managing Broker with John L. Scott Real Estate – University Village and is a 2005-2012 Seattle Magazine “Five Star” Agent. His clients include both home buyers and sellers. He can be reached at 206-498-1880, [email protected] or www.live206.com.
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Good for real estate agents and current property owners, you mean, rather than young middle class people who want to buy without retreating to the hinterlands.
Keep in mind, Greg, that some of those current property owners were “young middle class people” when they bought their homes in Wallingford 7 or 8 years ago…and then saw the value of their house plummet. To them, this news means financial stabilization, not profit.
Wallingford and many North Seattle neighborhoods have definitely become more popular/expensive over the last few years but I’ve helped a number of middle class clients buy in these areas as well as West and South Seattle. Regardless of most people’s budgets there will always be a trade off of location, size/finish level and location.
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of precious familiarity regarding unpredicted feelings.