The Seattle market continued to be robust in August with 58% of listings sold at or above the listing price. This continued the pace from July 2020 and was well above the 35% level in August of 2019. The month’s supply of inventory for sale remains at a fairly tight 1.5. Seattle is predominantly in a seller’s market condition which requires a skillful offering approach for buyers.
I’m excited to list this wonderful property which truly embodies “Home Sweet Home”!
This 2 bedroom,-1 bathroom, updated 1903 Craftsman is in the desirable Madrona neighborhood of Seattle and is surrounded by million+ dollar homes. Timeless charm, leaded stained glass, open foyer with a wood carved staircase and circular floor plan between the living and dining rooms. The kitchen includes a breakfast countertop for enjoying a meal. French doors open to a large deck off the dining room. The main floor is updated and there are architectural plans available to transform the basement and add a carport. Fully-fenced.
I so enjoyed working with my wonderful clients to prepare it for the market.
From Search to Signature®
Clearly this is a seller’s market with only 0.9 months of inventory available. Check out this short video which provides some high level stats. Happy to discuss market conditions facing both buyers and sellers. – Colleen
One measure of strength in the Seattle residential real estate market is the percentage of houses which sold above their listing price. For June 2020, 38% sold above with a 5% median increase from list price. This compares to 34% in May and 33% in June 2019. Of course, 20% sold at list price and 20% sold below list price but these were down from 24% and 23%, respectively from May. And, houses that sold below list price only had a median 2% drop from list price. This reflects a strong market with low supply and robust demand. So, this is great for sellers and requires a skillful process for buyers. See data below from Windermere Real Estate:
Note that 6 days on market for properties sold above list is fast. The ones that sold for below list is 20 days which, in a more long-term, normal market, would be expected for those that sold at list price.
3 bedroom 3 bath Fremont town house on tree-lined street with great amenities!
Colleen McCann 206-510-6596
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