Jan Slawson, Managing Broker

I have been tracking the Queen Anne real estate market in Seattle for about 10 years and post a weekly update outside of my home on Queen Anne.  This week’s update was a bit shocking!  There are 54 homes on the market and my records find that the last time there wer 54 homes was January 2006.  The last few years the inventory reached upwards to 141.

There are 56 total pending status which includes pending, pending inspection, pending feasibility or pending short sale.  I do not remember that number of pending at one time on Queen Anne EVER!  This is definitely a Seller’s market in this particular location.

Having said that, homes that are selling quickly are priced right, staged correctly, refreshed or updated, and still feel like a bit of a “bargain” to the Buyer.

Seattle Buyers are still feeling in control unless they are in a multiple offer situation, which seems to be happening more and more often with the influx of buyers after the first of the year!

It is nice to see buyers ready to get back into the market  and why wouldn’t they!  Great prices and low interest rates.  That doesn’t happen often in any lifetime.

It’s time for Seattle and Queen Anne homeowners to think about getting their home on the market if they want to sell and buy something else, or just move or change lifestyles – Condos are a good buy now as well!

Whatever you do, enjoy the interest rates, the low prices, and a hot real estate market in Seattle!

This last year of Seattle’s Queen Anne Real Estate has been an interesting one.

According to the company Trendgraphix, Inc., Active listings in October 2010 saw 154 listings, by end of December, 2010 91 listings active and end of year 2011 only 51 listings active in the zip codes of 98109 and 98119.  Average price per square foot varied from $256 to a high of $330 and now back to $265 as of 12/31/11.

Average days on market varied from 51 to 142 with sale price to original list price in the 90% range consistently.

Average price of homes for sale end of 2010 was $848,000 and ended 2011 with average sales price of $1,095,000.  However, average sales prices topped out at $853,000 11/11 with end of year average at $668,000.

2010 ended with 4.3 months of inventory and ended 2011 with 4.3 months of inventory.

As you can see, there became fewer and fewer homes to choose from over the year of 2011.  Buyers are looking for Queen Anne location – close to downtown – but want to move in with little to do, or want a great deal.

2012 should be even more interesting to see if more inventory comes on the market!

Finding your perfect home in general might seem like a daunting task. However, with the internet so accessible to many websites, it has become easier.  The things you won’t know from just looking on the web are the things that an agent can help with.  What are the surroundings, are the photos giving an accurate picture of the reality of the home, are the bedrooms large or small???  Those kinds of questions are easily answered by a person who knows the area and previews often to keep up with inventory.

The main thing is to be clear about what you want, so you can eliminate the houses that do not fit your criteria, and to be clear with your agent so that person doesn’t waste your time in showing you homes, or sending you ideas, that do not fit your lifestyle.

Make a list of wants, and must haves, and absolute should not haves, then make sure that if you are buying with someone else, that yours lists coincide!  Be sure you do this for both the house and the location so that you are buying just what you want.

Getting on an automatic email system is helpful for your search purposes.  Easily done by yourself on our Windermere web site, or with help from your agent.

Buying a home is one of the biggest decisions you will make, so be sure you are prepared, work with someone you trust and admire, and have fun in the process!

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