Home Girls: Looking at home sales last March and this March

By Nan Skinner, Keller Williams Realty

The Spring real estate market will soon be in full swing. It’s just starting now and it’s looking good. This article compares the monthly statistics for real estate sales for March 2013 and March 2014. I’m always slightly surprised when I run these stats. They are usually not what I expect, so I have learned not to have any expectations. I hope you find this as interesting as I do.

The total number of March 2013 Real Estate Sales (homes sold) in Shoreline and Lake Forest Park was 69. The average sale price was $362,316 and the average list price was $360,583. That means homes, on average, sold for more than the asking price. The average number of days on the market in March of 2013 was 44. For some perspective, the lowest sale price was $125,000 and the highest sale price was $1,165,000. Eight homes sold for $500,000 or more. The shortest number of days on the market was one day and the longest number of days was 709.The average size of these sold homes was 2001 square feet.

The total number of homes sold in March 2014 in Shoreline and Lake Forest Park was 70. (Just one more than last year!) The average sale price was $465,199 (a little over ¾ of a percent higher than last March). The average list price was $468,883 so on average, homes sold for slightly less than asking price. The average number of days on the market last month was 62. Again, for perspective, the lowest prices sale was $140,000 and the highest was $2,035,000. Eighteen homes sold for $500,000 and up. The shortest number of days on the market was one day and the longest number of days on the market was 294. The average size of these homes was 2158 square feet.

What stands out to me in comparing these two months is that the average sale price is higher while this March only one more home was sold. There is a result of the significant difference in the number of $500,000+ homes sold this March over last March. This goes along with the national statistics that report more million-dollar priced homes are selling this year as opposed to previous years.

If you have any questions about this article, if you want some specific statistics, or you want a market analysis for your home, you can contact me at 206-734-9289. I’m also starting chat sessions at The Bounty every Saturday from 10 am to 12:30 pm to talk about neighborhoods, life, and real estate. I look forward to hearing from you. You can find me on Facebook, Twitter, Pinterest, and LinkedIn. If you want to look at houses on-line (who doesn’t), here is my website.