Update: Current real estate market in Shoreline and Lake Forest Park

By Nan Skinner

After recently receiving some inquiries about the real estate market, I am resuming my "monthly" real estate market update. Here is how the market stands in mid-July:

There are currently 191 homes for sale in Shoreline and Lake Forest Park (including a few in Kenmore). Those homes have been available for purchase an average of 86 days; the least number of days is zero and the most number of days is 777.

The average original list price of these homes is $938,935; the average current list price is $901,614. As you can see, prices are going down. The median home price is $700,000; the lowest list price is $299,950 and the highest is $5,000,000.

Over the last 180 days, 86 homes came under contract (pending sales). Before they "went pending", these homes were on the market for an average of 27 days; least number of days is zero and the most number of days was 272.

The average original list price (when they came on the market) was $823,676; the average asking price at the time the homes were pending was $811,633. The median price of these homes is $652,500; lowest price is $305,000 and the highest is $5,250,000.

Number of homes sold in the last 180 days was 453 (some of these used to be in the pending category). It took an average of 37 days for these homes to be sold (officially closed); a few homes sold in zero days and a lot more homes took quite a bit longer (about 210 days, and one took 614 days).

The average original list price was $726,000; the average list price at sale was $715,000; the average sale price $718,000. The lowest sale price was $290,000 and the highest sale price was $3,550,000.

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Nan has had a 19-year career (so far) in real estate. She is currently affiliated with HomeSmart Real Estate Associates located in Thornton Place (Northgate). She is always willing to answer your questions. www.nanskinner.com