Seattle Home Sales in Last 30 Days

In light of all the press about the increase in home sales in August, I thought I would provide a little analysis for my readers.

There were 432 single family home sales in Seattle in the past 30 days, with a median sale price of $383,000. These homes sold within 33 days of listing (median time) at 98.24% of the asking price. The median home sold with three bedrooms, 1.75 bathrooms and 2,015sf of living space, listed at $399,000.

63 of these sales (15%) were for bank-owned properties. Bank-owned properties sold for a median price of $159,000 for a 3-bedroom, 1.75-bath home with 1440sf of living space.

Non-REO home sales sold for a median price of $428,000 for a 3-bedroom, 2-bath home with 2179sf of living space.

The greatest number of sales (92) occurred in the $300,000 - $400,000 price range. 71% of the sales in Seattle were for homes built prior to 1978. More than half of all sales were for homes built prior to 1947.

There were 152 Seattle condominium sales within the same time frame. The median condominium sale was for a two bedroom, one-bath, 871sf condo listed at $232,450 which sold in 94 days for $226,250 or 96.43% of asking price. 36 of these sales (24%) were for bank-owned condos.

I am happy to do this analysis for any neighborhood in Seattle and will try to update this blog with neighborhood stats for Seattle's favorite neighborhoods. Send me your comments or requests! and Stay Tuned!

Another Year Wiser

Yesterday I celebrated yet another birthday, and like to think that I am making progress in my life, not just getting older. I believe that my pursuit of real estate is a new intellectual challenge that will lead to financial freedom down the road. And that I am continually challenging myself to learn and grow in this complex and many-faceted field.

This morning I heard a report on NPR that fully a third of all home sales in the first quarter of this year were foreclosure properties. I have yet to verify whether that is the case here in King County (I doubt it, although there are certainly more foreclosures now than in recent memory).

Buyers are bargain hunting in this economy, and who can blame them? Bargains are out there. Financial rewards will come to those who are not afraid to make a move now, and buy while prices are low, interest rates are low, and inventory is plentiful. Take your pick right now. I can send you a list of properties in Seattle priced under $300K, many in very desirable neighborhoods, most with great upside potential for buyers who are not afraid of a little sweat equity.

Those buyers who are not afraid of stepping in while others wait will be the ones ten years from now, smiling at their good fortune.

Life is full of risks. Risks and choices. We learn this as we grow older - and yet, so many people just stop growing. They become afraid to take risks. They grow old.

Me? I am still searching for that fountain of youth. I am trying to eat right (mostly), exercise daily, and stretch my mind. I am engaged in living. I am another year wiser.

And looking for partners who are interested in plunging into real estate with the same passion for future-building as I have. Please contact me if you are looking for ways to grow financially in real estate, and I'll send you my lists of great bargains and opportunity....