The local real estate market is very active

By Nan Skinner, Keller Williams

So, the real estate market in Shoreline, Lake Forest Park, and Kenmore is very active. Right-priced homes are selling like hotcakes while homes that are not priced correctly are languishing on the market.

In February, 27 homes went under contract in less than 10 days. (A home goes under contract and off the market when the seller and the buyer agree (by signatures) to the terms of their contract.)

• Eight homes went under contract in less than 30 days.
• Thirty homes sold in 30-262 days.
• There were 64 homes sold in February.

The average number of days on the market was 47 and the average sale price was $426,000. The lowest sale price was $157,500 and the highest was $700,000.

There are currently 88 homes for sale. Of those 88 homes

• 29 have been on the market less than 10 days
• 18 have been on the market for between 10 and 30 days
• 43 have been for sale for over 30 days.

Twenty-three homes have been for sale for over 100 days. The average list price for these homes is $856,000. The lowest list price is $185,000 and the highest is $5,200,000. 

Tidbits: The industry is still experiencing frequent multiple offer situations. Interest rates range from 3.5% to 4.6% depending on the lender – shop around. Even bank-owned property prices have gone up and are being spruced up to reflect the price increases.

Homes that are staged sell sooner and for more money. If you are thinking of selling your home yourself, know that “ you’ll cost yourself more than the agent’s commission by trying to sell it yourself.” – Dave Ramsey.

For a real estate consultation, buying or selling, contact your REALTOR®.  If you don’t have one, I’d love to be yours.

206-734-9289, Nan Skinner, Keller Williams