Thursday, October 20, 2011

Which homes are selling in Queen Anne and Magnolia?

In a previous post about homes in north Seattle I spotlighted what price ranges are most active. It is important information if one is considering buying or selling a home, because the real estate market is different at different price points.

Think of it like the weather. The weather for the state of Washington on a given day will be different than the weather in Seattle. The weather in Seattle may be different if you are on the waterfront vs. in land.

Which homes are selling in Queen Anne and Magnolia? At different price points the market acts differently. The most active price point in the last six months were the 35 homes that sold from $350,000 to $400,000. While the market for homes priced above $700,000 was much slower.

Which homes sold the quickest? Below is a graph that shows the number of days on market (DOM) for homes in many price ranges. In the price range of $500,000 to $550,000 there were 26 homes that sold with an average DOM of 21 days! WOW! That's a hot market!

As it shows above, for those who own homes in active price points now is a good time to sell. Plus there are also some excellent opportunities for home buyers looking in non-active price points.

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