Waterfront Seattle Homes Sold in July 2009

There were two significant Seattle waterfront real estate sales in the month of July. Both sales were on the Puget Sound waterfront, but coming from opposite ends of the city.

A 2 bed, 2 bath, 1500 sq ft West Seattle home on Beach Dr sold for $930,000 after 4 months on the market. This was clearly a sale based on the land value, the home will very likely be torn down and rebuilt. They didn't even bother putting pictures of the home in the MLS listing. There are very few folks in the Seattle area who will spend nearly $1 million and live in a 1500 sq ft home. The west-facing views should make this a great lot for a new house.

On the North end of Seattle, a Blue Ridge home sold for just under $1 million. This was a 2500 sq ft, mid-century home built specifically for the views. It had been on the market for about 5 months. This is a high-bank waterfront property, so most likely the access to the beach would be through the community Blue Ridge beach/park access. The Puget Sound waterfront in the Blue Ridge/North Beach area is some of the calmest, with great walking beaches and low surf.

Sam DeBord and Brian WiegandSeattleHome.com

Seattle Homes Selling - Sales Up, Inventory Down in July

According to the latest stats from the NWMLS, home sales in the Seattle area are continuing their summer rebound. Based on the number of calls I'm getting from Seattle buyers who are looking to use the $8000 first time home buyer tax credit before the November expiration, I'd imagine this rally will last later into the fall than the usual cyclical summer real estate surge.

Total real estate sales in King County were are their highest point in two years, while pending sales were up over 10% in King and Snohomish Counties. While prices in Seattle are down about 13% compared to last year, the "losses are lessening" as an optimist once said. Prices were down over 15% earlier in 2009, so things seem to be flattening out.

The biggest surprise was the drop in overall inventory. King County experienced a 20% decrease in the number of houses on the market, a really staggering number. This will surely drive prices up a bit on some new listings, and should keep the home prices from falling any further, at least in the short term.

Sam DeBord and Brian Wiegand
Seattle Homes and Seattle Condos for sale on SeattleHome.com
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Queen Anne, Seattle Real Estate Sales Are Up in June

Home Sales in Queen Anne followed the general trend of Seattle real estate sales, with a 30% increase in house and townhome sales this June as compared to last year. There were a total of 30 of these homes sold in Queen Anne this June, as opposed to just 23 in 2008. The sales prices actually showed a slight increase this year, moving up from a $625,000 median to $629,000 this year.

The only low point for the house and townhome market in Queen Anne was marketing time, as time on market moved up slightly from 39 days to 44 days. Considering the other bright statistics, I don't think that this minor increase in Days On Market will dampen anyone's spirits about the state of Queen Anne real estate.

Sam DeBord and Brian Wiegand - SeattleHome.com - Seattle Real Estate Brokers

Queen Anne Homes For Sale - Seattle Homes For Sale

Information derived from MLS data, total sales figures may differ. The Northwest Multiple Listing Service did not compile or publish this data.

Phinney Ridge Real Estate Hot in Summer 2009

Phinney Ridge, Seattle home sales are up significantly this summer as compared to last year. June 2009 sales of houses and townhomes in Phinney Ridge were up 7.7% as compared to the same month in 2008. More surprisingly, median home prices were up 9.3% over last year. The median sales price in June 2008 was $525,000 in Phinney Ridge, and rose to $574,000 in this year in June.

The icing on the cake of this neighborhood's market's statistics is the marketing time. Total time on market has been cut in half, as the median time went from 56 days to 28 days in 2008 vs. 2009. These large increases match the trend for most of North Seattle, as we've seen strong sales and pricing increases all over the Seattle metro North of the Ship Canal.

Phinney Ridge Homes for Sale - Seattle Homes For Sale

These statistics based on MLS data. The Northwest Multiple Listing Service did not compile or publish this data.

Sam DeBord and Brian Wiegand - SeattleHome.com - Seattle Real Estate Brokers

Ballard, Seattle Real Estate Selling Fast in Summer

Sales of Ballard, Seattle houses and townhomes are up big for June of 2009. Compared to the same month in 2008, total sales are up 19%, and sales of single family homes are up 17%. These are significant improvements in a comparable seasonal sales category.

Homes in Ballard are also selling faster than ever. There's no way to describe the Ballard market right now except as "hot". Median days on market was just 14 days for all townhomes and houses, and single family homes had a median marketing time of just 12 days. These are some of the fastest sale times we've seen anywhere in Seattle or King County.

The Ballard real estate market seems to have inherited the perfect storm. It's an attractive and entertaining neighborhood for young buyers, prices are fairly reasonable for first-time buyers, and the $8000 tax credit is pushing many of these first time buyers off the fence. Nearly half of our current first-time buyer clients are buying homes in the Ballard area for its combination of downtown Seattle proximity and affordable housing in a lively, urban environment.

Ballard, Seattle homes for sale

Numbers based on MLS data - total sales numbers may vary slightly. The Northwest Multiple Listing Service did not compile or publish this information.

Capitol Hill Condo Sales Take Big Jump in June

There were 36 Capitol Hill Condos sold in June of 2009. The median price was $286,500, and lasted just 37 days on the market. While the overall Seattle condo market has been fairly slow this year, the Capitol Hill neighborhood seems to be selling at a much faster pace. The median condo was a 1 bedroom 1 bath home. The maximum price paid last month was $565,000 for a 3 bed, 2.25 bath condo.

Compared to June of last year, we saw a 33% increase in condo sales on Capitol Hill, with just a 6% decrease in prices (median last year was $305,000). Considering that much of King County has seen 15% drops in prices since last year, this market remains very strong.
Capitol Hill, Seattle Condos For Sale

This data was not compiled or published by the Northwest Multiple Listing Service.
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Seattle's Green Lake Condo Sales, 2009

Condo sales in the Green Lake neighborhood of Seattle have been slower than single family home sales during the first half of 2009. Days on Market has averaged 61 days so far, a significant margin above houses. Median prices for the first half of the year stand at $215,000 for a typical 2 bedroom, 1 bath condo.

Much of the longer time on the market may be attributed to pre-sale, under construction projects. Many of these condos will go on the market well before completion and artificially inflate the marketing time by including presale time. Even still, for such a well-known and valued neighborhood, condos seem particularly affordable at the moment in Green Lake.

Green Lake, Seattle Condos For Sale

Seattle Home Sale Up Big in June

The latest numbers coming in from the NWMLS are showing a stronger real estate market in King County, led by big numbers in North Seattle and move-up buyers pushing mid-priced homes into a more positive market.

June statistics - 2009 vs. 2008
Total sales in King County: Up 4% vs. June 2008
Total sales in Seattle: Up 11%
Total sales in Northeast Seattle: Up 26%
Total sales in Northwest Seattle: Up 16%

Prices are also finally starting to show an upward trend, with prices up approximately 4% since January 2009.

While no one will attribute these numbers to a definite turning point in the the market, these are the strongest signs we've seen in two years that the real estate market is getting healthy. The total sales closed in June were the most since October 2007.

First-Time Home buyers fueled much of the buying earlier in the year, but it looks like mid-priced homes are starting to move as well. Those homeowners who have sold early in the year are moving up in to higher-priced homes, which accounts for the increase we've seen recently in median prices.

Seattle Homes For Sale

Waterfront Home Sales in Seattle, June '09

Floating Homes and Houseboats dominated the Seattle waterfront home sales for the month of June. Looks like summer has started.

There were 11 total waterfront homes reported sold on the NWMLS in June, with five being houseboats and floating homes. Two houseboats on Lake Union sold at under $300,000, while the floating homes sales started at $500,000 and moved all the way up to $1,400,000.

The two highest-end homes on the waterfront were in Laurelhurst in N. Seattle and Fauntleroy in W. Seattle. The Fauntleroy home sold for over $1.7 million, with 85 feet of no-bank waterfront on the Puget Sound. The Laurelhurst home, which had 16 feet of Lake Union waterfront and a shared 50 foot dock, sold at just under $2 million.

Seattle Waterfront Homes For Sale

Pending Home Sales Rise For Fourth Consecutive Month

Pending home sales numbers in the U.S. are continuing their upward trend. For the fourth consecutive month, the Pending Home Sales Index rose for residential homes. This index measures signed contracts on homes for sale. Low interest rates, more affordable home prices, and first time buyer tax credits are attributed to the increases in homes under contract.

We haven't seen four straight months of gains since late 2004, so this is a very positive trend in real estate sales. While these transactions may take a bit longer to close with the larger number of short sales and distressed homes, there's no doubt that total closed home sales will rise in the coming months.

Seattle Homes For Sale

Seattle Prices of Home Sales Gain in April

Prices of Seattle home sales rose in April for the first time in 12 months. From March to April, real estate prices rose just 0.23 percent in the greater Seattle metropolitan area. The increase is miniscule, but it halts a trend of losses and is likely due to the seasonal uptick of spring and summer home sales.

The Case-Shiller index measures home sale prices in 20 major metropolitan areas around the U.S. This month, 8 of those 20 areas showed increases in prices, while the other 12 were flat or down. Although the numbers aren't great, they also show a slowing of the downward trend we've seen for quite a while in the market. Phoenix, Las Vegas, and Miami assumed their usual positions at the bottom of the list, with foreclosures and distressed properties still battering their real estate markets.

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Mercer Island homes - Waterfront Sales

There have been 3 waterfront homes sold in Mercer Island so far in 2009. Two are in the Lakes neighborhood, while the third is Lake Washington waterfront.
The Lakes neighborhood is comprised of high end 1980's era homes on a group of small inland lakes. The two homes sold each had waterfront on this neighborhood shoreline. Selling at just under $1,000,000, the first 4 bed, 3.5 bath home sold at a 15% discount from list price in about 5 months. The second sale in Lakes was a 3 bed, 2.5 bath home with 120+ feet of waterfront. The home sold for just over $1,000,000 at a 6% discount from list. It was on the market for 9 months.

The other sale was a Lake Washington waterfront home on the "quiet" Northeast shore of Mercer Island. With 80 feet of waterfront and a modest 1500 sq ft house, it sold for almost $2,000,000 after 10 months on the market. The 3 bed, 1.5 bath home is a 1915 cottage is situated on a large, 16,000 sq ft lot with plenty of privacy.

Mercer Island Waterfront Homes
Mercer Island Water View Homes

Sam DeBord and Brian WiegandSeattleHome.com (206) 431-5900

Seattle Waterfront Real Estate Brokers - RE/MAX Connected

Seattle Waterfront Homes - Seattle Water View Homes - Seattle Floating Homes - Seattle Houseboats - Seattle Condos - Seattle Luxury Homes - Seattle Homes For Sale

Mercer Island homes - Waterfront Sales

There have been 3 waterfront homes sold in Mercer Island so far in 2009. Two are in the Lakes neighborhood, while the third is Lake Washington waterfront.
The Lakes neighborhood is comprised of high end 1980's era homes on a group of small inland lakes. The two homes sold each had waterfront on this neighborhood shoreline. Selling at just under $1,000,000, the first 4 bed, 3.5 bath home sold at a 15% discount from list price in about 5 months. The second sale in Lakes was a 3 bed, 2.5 bath home with 120+ feet of waterfront. The home sold for just over $1,000,000 at a 6% discount from list. It was on the market for 9 months.

The other sale was a Lake Washington waterfront home on the "quiet" Northeast shore of Mercer Island. With 80 feet of waterfront and a modest 1500 sq ft house, it sold for almost $2,000,000 after 10 months on the market. The 3 bed, 1.5 bath home is a 1915 cottage is situated on a large, 16,000 sq ft lot with plenty of privacy.

Mercer Island Waterfront Homes
Mercer Island Water View Homes
Seattle Real Estate

Seattle home sales down early in May

Seattle home sales showed small bump in prices from late April to mid-May of this year, while total home sales were down almost 20% in the same period. King County in general, seems to have taken a Memorial Day break from home buying.

According to recent NWMLS data, King County real estate sales went from 883 in the second half of April 2009 to just 707 sales in the first half of May. The median price, at the same time, went from $346,000 in April $355,000 in May. Median days on Market went from 44 days to 53 days.

While these numbers are limited in that they are just a quick snapshot of the market, they are interesting in light of the upward trend in home sales thus far in the Spring. NWMLS data for the entire month of May should be released this week, giving us a better picture of sales trend for King County and Seattle real estate.

Sam DeBord and Brian WiegandSeattleHome.com (206) 431-5900
Seattle Waterfront Real Estate Brokers - RE/MAX Connected
Seattle Waterfront Homes - Seattle Water View Homes - Seattle Floating Homes - Seattle Houseboats - Seattle Condos - Seattle Luxury Homes - Seattle Homes For Sale

Belltown condo prices increase in 2009

In a small ray of light among many darker clouds, the Belltown neighborhood of Seattle had a median price increase of 2.8% comparing Year-To-Date 2009 vs. YTD 2008. The median home price sold in Belltown was $427,000 in at this point in 2008 vs. $439,000 today.

A lot of factors could be contributing to this increase, including high-priced new construction condos coming on the market and a much lower number of total transactions, skewing the median upward. The total number of homes sold in Belltown during this same timeframe was off by more than half, which quickly rains on the very short parade of price appreciation.

Belltown condos for sale

Renton's waterfront home sales for 2009

Renton has seen a handful of waterfront home sales so far in 2009, with two on Lake Washington waterfront. Renton's Kennydale neighborhood is on the Southeast corner of Lake Washington, and it houses some single family homes and condo buildings on the lake.

The two Renton sales on Lake Washington so far have been a $1.1 million dollar, large 1960s era home and a $2.9 million dollar new construction home at the new Barbee Mill development of multi-unit properties.

Renton Waterfront Homes

Bellevue waterfront homes - 2009 sales

Bellevue's waterfront homes have seen some significant sales so far this year. According to the NWMLS, there have been 9 waterfront single family homes sold so far in 2009, ranging from $1.05 million to $3.68 million. Who says there are no buyers for high end real estate?

These waterfront homes all seem to be selling within 5%-10% of their list price, which is fairly good considering the current declining values in the upper end of the market. It seems that these sellers of waterfront real estate are willing to negotiate on their prices, but aren't necessarily taking big price cuts to make a transaction happen.

Bellevue waterfront homes

Seattle area home sales up 25% in April - First Time Buyers Increase

Home sales in King County, WA surged in April, mostly fueled by a large number of first time home buyers. Total Seattle area home sales were up 25% from March to April 2009, and up 15% compared to the same month in 2008. Low prices, low interest rates, and buyer incentives like tax credits are creating a favorable atmosphere for buyers.

There was a clear majority of home sales in the lower end of the price spectrum, influenced by bank-owned homes, short sales, and first-time buyers. The overall numbers show a still-settling market, but a better-than-expected movement of inventory.

Seattle Home for Sale - Real Estate

King County Residential Home Sales up 30%

King County and the Seattle area's latest statistics show a big jump in total sales numbers in March 2009. Residential sales volume was up 30% from February to March, and attached home sales volume was up 45%.

The numbers we saw in February represented the usual cyclical increases in Spring for home sales, but the March numbers look like they are influenced by more than just the season. First time buyers and mid-range buyers are definitely getting back into the market. Even though prices are still down somewhat, this kind of sales volume will begin to stabilize the market prices.

Seattle Real Estate

Pending US Home Sale Up for Feb

Pending sales moved up 2.1% in February, according to the Pending Home Sales Index. With affordability up, first time buyers are becoming a larger part of the buying market.

While this increase isn't big, it's at least a positive sign that buyers are picking up the distressed properties on the market and starting to stabilize the inventories.