January 2018

JANUARY REAL ESTATE BLOG

January was a very quiet month in Laurelhurst. I think the most interesting fact is the number of active listings, of the 10 only 2 were new listings for the month of January, and 7 of the 10 have been on the market for over 70 days, 4 of these 7 have been on the market for 4 months or more with the 2 waterfront listings all on the market for greater than 16 months.

Our typical days on market for homes priced to sell in Laurelhurst are 7-10 days. It is interesting to note that the homes that are not selling are all listed over $2,100,000. Another change in our market is that the 2 sold homes both sold for less than list price which is unusual in our neighborhood.

Our inventory in Laurelhurst remains extremely low, so hopefully the sun will come out soon resulting in more home on the market in our neighborhood!

Here are some tips for anyone thinking about getting their home ready to sell.

Tips for Sellers

1. Declutter and Organize

After the holidays is a great time to clear out all the things you no longer want or need. Organize your closets and pantries so they are tidy, as this will showcase your storage space.

2. Paint Inside and Out

Make sure interior rooms are freshly painted with a neutral color. Power wash and paint the exterior if needed. The front door is the first thing a prospective buyer notices so make sure it is freshly stained or painted.

3. Make Updates to Increase Your Home’s Value

If you are working with a Realtor ask them what items have an impact on buyers, i.e.. new hardware on cabinets, a new kitchen backsplash, appliances that all match, refinish hardwood floors etc.

4. Talk to and Collaborate With Your Neighbors

Buyers don’t just look at your home and yard they look at your neighbors. If you share a hallway or lawn, let your neighbors know you are planning to sell and kindly ask them to tidy up. If necessary offer to mow their yard or trim their trees, it makes a difference!

5. Figure Out the Right Time to Sell

Sellers tend to think they need to wait until spring in order to sell quickly, but in our current market any time is a good time.

6. Price Your Home to Sell

Look at recent sales, pricing trends in the neighborhood and inventory to assist in choosing a listing price. Remember overpricing could scare off potential buyers, and underpricing means that you could leave money on the table.

ACTIVE LISTINGS AS OF JANUARY 31ST

Address	List Price	Beds/ Baths	Year Built	Sq.Ft	CDOM	Price p/sq.ft
*4715 45th Ave NE	$1,185,000	4/1.5	1928	2,210	7	$536.20
3609 NE 43rd St	$1,480,000	3/2.25	1956	2,660	2	$556.39
3718 48th Ave NE	$1,950,000	4/1.5	1975	3,874	9	$503.36
3141 E Laurelhurst Dr NE	$2,160,000	3/3.25	1923	3,840	123	$562.50
4511 NE 38th St	$2,195,000	4/3	1938	4,044	70	$542.78
4312 36th Ave NE	$2,279,000	5/5.5	2016	4,800	147	$474.79
3817 49th Ave NE	$2,468,000	4/3.75	1970	3,467	73	$711.85
4549 55th Ave NE	$2,695,000	4/4	2014	4,320	198	$623.84
3627 42nd Ave NE	$10,000,000	6/4.5	1921	6,860	488	$1,457.73
3054 E Laurelhurst Dr NE	$11,800,000	5/4.75	1928	7,683	511	$1,535.86

PENDING IN JANUARY

Address

List Price

Beds/

Baths

Sq.Ft.

CDOM

*4715 45th Ave NE

$536.20

4/1.5

2,210

*Listed and under contract in January

SOLD IN JANUARY

Address	List Price	Sale Price	CDOM	Beds/ Baths	Sq.Ft	Price p/sq.ft	Date Sold
4528 W Laurel Dr NE	$1,600,000	$1,491,150	4	4/2.25	3,260	$457.41	1/9
3811 42nd Ave NE	$1,550,000	$1,500,000	18	5/3.5	3,840	$390.63	1/10
4115 51st Ave NE	$1,549,950	$1,510,000	2	5/3	3,074	$491.22	1/17
3408 E Laurelhurst Dr NE	$2,950,000	$2,864,150	87	4/3.25	4,410	$508.51	1/16
Averages			28		3,646	$497.18

Median Sales Price = $1,505,000

CDOM = Cumulative Days on Market

If you have any questions regarding current real estate trends give me a call or email me @ 206.235.7772 or kodales@windermere.com