May Real Estate Recap
The real estate market for the North Seattle area continued the year long trend of being a sellers’ market. Houses are selling faster and at a higher price point than a year ago. The average days on market for a North Seattle home in 2013 was 24 days, this past month a home sold on average in 20 days. More buyers are having pre-inspections completed, writing cash offers, and waiving other contingencies, all to compete for their dream home. Compared to May of 2013, the median price on a home sold in North Seattle increased by 10%. That increase is a result of more buyers who are looking to live in North Seattle.
More specifically in the Greenlake neighborhood, the median home price rose from $475,500 in May 2013 to $499,000 in May 2014 which is a 5% increase from the previous year. If you are looking to buy or sell your home and would like more information, feel free to contact me with any questions.
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