Ravenna-Roosevelt May 2011 Market Report

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Home Builder with Retired

Ravenna-Roosevelt May 2011 Market Report

The 16 closings in May was double that of the 8 closings of residential property in the Ravenna and Roosevelt neighborhoods of Seattle during April. Surely a good sign that the people who took the plunge actually made it to the closing table.  Active listings have been pretty steady for the past three months coming in currently at 33 . We still could use more inventory in these neighborhoods. There are buyers out there looking for homes.

Status

#

Low $

High $

Average

Median

Days on Market

Active

33

170,000

775,000

493,004

459,000

59

Pending Inspection

10

159,950

528,000

335,070

355,00

36

Under Contract

19

144,500

839,500

471,579

425,000

39

Sold

16

300,000

640,000

442,538

415,000,

30

 

Last month there were 25 listings pending inspection or otherwise resolved and just waiting to close. Now there are 29 such properties, so expect June totals to be up slightly.

For in-city Seattle north of the ship canal the statics include 219 closed sales in April, 469 pending sales (up 130) and 912 active listings up 121 since last month. Absorption rate is now 4.2.Still a sellers market.

Sold in April for $629,950

This report includes single family homes, townhomes and condominiums.



If you live in the Seattle area, and in particular the North Seattle and the Ravenna or Roosevelt areas, give me a call and let’s discuss how to resolve your real estate issues.

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Glenn Roberts
Retired

 

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Rainmaker
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Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Gorgeous image and nice, big. Super run down of the local real estate market pulse too!

Jun 01, 2011 05:38 PM #1
Rainmaker
311,259
Glenn Roberts
Retired - Seattle, WA

Andy, I'm happy we still have a pulse after todays Case-Shiller report.

Jun 01, 2011 05:53 PM #2
Ambassador
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Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Glenn, Nice clear summary of the local neighborhoods!  Keep up the great work!

Jun 02, 2011 06:22 AM #3
Rainmaker
311,259
Glenn Roberts
Retired - Seattle, WA

Bilz - I'd like to see a few more sales but we'd need more inventory for that. No on seems to want to leave these two neighborhoods.

Jun 02, 2011 10:10 AM #4
Rainmaker
1,060,934
Nick T Pappas
Assoc. Broker/Broker ABR, SFR, e-Pro, @Homes Realty Group, Huntsville AL - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Glenn, really informative report of your area...things seem to be moving along in your market...the DOM seem very reasonable.

Jun 02, 2011 07:20 PM #5
Rainmaker
311,259
Glenn Roberts
Retired - Seattle, WA

Nick - Those that have sold quickly were almost always priced right. The others are living with false hopes.

Jun 02, 2011 07:23 PM #6
Ambassador
1,551,547
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Glenn, That no one leaving can make it a challenge for comps!  You know what it SHOULD be worth, but the buyers agents go low because they can't "prove" it! :)

Jun 02, 2011 08:24 PM #7
Rainmaker
311,259
Glenn Roberts
Retired - Seattle, WA

Bliz - Marjie and are working on a CMA for another area near here and the home is $700K-750K but there are no sold comps. Some things not as nice that aren't/didn't sell, some better homes over $800K, and some smaller homes under $600K. I'd pull my hair out (if I had any) for some valid comps. Who knows what an appraiser will use?

We just need more people who want to move. Then we'll have some comps.

Jun 02, 2011 08:32 PM #8
Rainmaker
358,565
Sondra Meyer:
Star View Real Estate - Colorado Springs, CO
See It. Experience It. Live It.

Glen, just another example that buyers and sellers shouldn't be believing everything they here in the news.  It sounds like your market is picking up. 

I like the picture of the trees in bloom. 

Jun 03, 2011 11:49 PM #9
Rainmaker
480,763
Cara Marcelle Mancuso
Long Realty - Dove Mountain, Marana AZ - Tucson, AZ
Call a Marana neighbor, I'm THERE!

Seems like things are moving!  Love the Cherry trees!!!  My daughter just enjoyed a week up in your area - went to a folk festival, the wharf and market, the University district, countless restaurants.  She's all ready to move...except she's not old enough.  Ha!

Jun 04, 2011 01:14 AM #10
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Glen very informative market report for Ravena-Roosevelt.  Homes seem to be selling fast can't remember when last the DOM was 30 days for sold properties.

Jun 04, 2011 11:56 PM #11
Rainmaker
311,259
Glenn Roberts
Retired - Seattle, WA

Sondra - People should operate in terms of what timing is good for them and stop playing market games.

Cara - Hope you daughter had a good time., Sounds like it.

Jennifer - 30 DOM is a darn good average.

Jun 05, 2011 12:00 AM #12
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Rainmaker
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Glenn Roberts

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