When it comes to selling or buying homes for sale in Queen Anne, Seattle, you want to make sure you fully understand the current market conditions and how they impact you. Especially with this neighborhood’s low inventory and increased prices, buyers are entering a competitive market, and sellers need to be prepared for a fast sale and figuring out which offer is the best for them. The first step in navigating this is by choosing a Queen Anne, Seattle Realtor who will represent you. You don’t want to pick someone simply because they have a license either. You need a professional, qualified Queen Anne, Seattle Realtor who has a proven track record. This allows you to feel confident knowing that you have someone to not only professionally represent you throughout the transaction, but that you also have proper guidance throughout the entire experience. Additionally, a Queen Anne, Seattle Realtor is the only person who can accurately inform you of what is happening in the Queen Anne, Seattle Real Estate Market. Details like average and median sold prices for homes for sale in Queen Anne, Seattle, along with the month supply and days on market change with the market. However, these details can be worked to your advantage and the only way to get them accurately is through a realtor in Queen Anne, Seattle as we use the NWMLS. As a buyer, these details help you put together an attractive offer that sellers look for in this competitive market. As a seller, knowing these details help you price your property according to market value. This allows you to experience a shorter time on the market as well as attract multiple offers which can result in closing at over asking. So how is the Queen Anne, Seattle Real Estate market doing? Let’s take a look!
As far as the average and median sold prices for homes for sale in Queen Anne, Seattle goes, prices are up. The average is up 13.1% from this time last year at $975,132. The median sold price is up 13.9% at $858,000. The average percentage of list price for this neighborhood is at 104.6%. Your realtor in Queen Anne, Seattle will further explain how you can use this number to your benefit, but in a nutshell, this indicates your negotiation power as well as tells us that Queen Anne, Seattle homes for sale are going for over asking.
As far as inventory in this neighborhood is concerned, the amount of Queen Anne, Seattle homes for sale is down 23.8% while the amount of new listings is down 10.2%. Closed sales are down 5.1% and pending sales are down 6.3%. This is not great news for buyers, however, this is all a result of a low month supply. This number is down from this time last year by 25% at 0.9. To understand the month supply, this tells us who has control of the Queen Anne, Seattle real estate market. Anything 6 or over is considered balanced while anything less than 4 is a seller’s market. Your realtor in Queen Anne, Seattle will be able to share what this number is as it changes with the market. Both the average and median days on market are down. The median days on market for Queen Anne, Seattle homes for sale is 8 while the average is down to 21. This is great news for sellers looking to move their property quickly. Although be prepared for a fast move! Buyers, this tells you that you do not have time to “sleep on it”.
If you are looking for a Queen Anne, Seattle Realtor or Queen Anne, Seattle homes for sale, feel free to give me a call. I would be happy to help!