Capitol Hill Real Estate: Steady as She Goes

Capitol Hill SeattleCapitol Hill Real Estate is pretty steady as compared to last year.  This July there was 51 sales, the average days on market for a Capitol Hill property was 35 days, and the average sales price was just over $500,000.  Comparing this to last July there was 57 sales, the average was 32 days on market, and the average sales price was slightly over $525,000.  All the numbers are very similar to the previous year.  For example, the above pictured North Capitol Hill home sold twice in the past year and half.  Both times the home sold for essentially the same price indicating the market has been relatively steady over that time.

Capitol Hill real estate market has a small sample size so the statistics have to be tempered because a few sales can make a huge difference.  Looking at both residential and condo sales in the Central Seattle real estate market (east of I-5 to the lake; south of the Montlake Cut to I-90) the number of sales increased (last July 146 sales vs 153 sales this July) but the average sales price decreased slightly from $650,977 to $644,454.

While numbers were gathered from the Northwest Multiple listing Service; Statistics not compiled or published by the Northwest Multiple Listing Service.

Feel free to contact me if you want a complimentary price opinion of your home:  Kristine Losh, Ewing & Clark Real Estate.

Captiol Hill Real Estate Recap: February 2014

The Capitol Hill real estate market featured thirty-two sales this past February which is the best February in the last four years.  In 2013 there were 31 sales, in 2012 there were 26 sales, and in 2011 there were 27 sales.  Currently there are 47 active listings for sale on Capitol Hill with a high of $8.5 million for a home with an undisclosed location and a low of $157,000 for a co-op in the vicinity of Cal Anderson Park.  The pending sales do not vary in price as much with the most expensive being a home listed for $2.6 million and a co-op for $110,000.  There are currently 65 homes pending sale. Cap Hill home nicole

The Central Seattle real estate market which includes Capitol Hill (basically the area from the Montlake Cut to I-90 and from Lake Washington to I-5) is showing signs of strength.  While median year-to-date sales price is down from $619,000 to $577,475, the average year-to-date sales price is actually up from $729,042 to $736,659.  In addition, year-to-date sales for the first two months are up with 88 sales in 2014 versus 79 sales in 2013.  Inventory is also tighter than last year, down from 128 to 93 active listings in the month of February.

If you have any questions about the Seattle real estate market, please feel to reach out to a local Seattle real estate agent.