Northwest Seattle: Drop In Inventory

If you kept house hunting through the month of December, you probably noticed fewer For Sale signs decorating Northwest Seattle parking strips. I hope the drought didn’t cause you to have any dark thoughts about never finding that Perfect Wallingford Bungalow. It’s traditional for inventory to drop in December – the holidays and all that – so no big deal.

How big a drop? The number for sale fell between 25 and 50 percent in this part of the city. That’s a combination of deals closing, existing listings taken off the market, and potential listings holding out for the bigger crowd of new year’s buyers.

If you want the December details, here are the Jan. 1, 2007, inventory numbers compared to those for Dec. 1, 2006.

Ballard:

# For Sale: 79 (-36.6%)
Median List Price: $419,000 (-2.6%)
Average List Price: $495,697 (+2.7%)
Average Square Footage: 1329 (+0.2%)
Average $/Square Foot: $388 (-0.5%)
Average DOM: 93.9 (+7.2%)

Fremont:

# For Sale: 126 (-25.0%)
Median List Price: $499,950 (-9.1%)
Average List Price: $525,174 (-4.1%)
Average Square Footage: 1533 (-6.5%)
Average $/Square Foot: $362 (+3.1%)
Average DOM: 69.9 (+10.4%)

Phinney Ridge:

# For Sale: 78 (-50.0%)
Median List Price: $449,888 (-1.7%)
Average List Price: $499,645 (-0.8%)
Average Square Footage: 1649 (+0.2%)
Average $/Square Foot: $330 (-2.9%)
Average DOM: 61.5 (+22.8%)

Wallingford:

# For Sale: 111 (-24.5%)
Median List Price: $525,000 (-2.8%)
Average List Price: $521,304 (-4.5%)
Average Square Footage: 1498 (-8.2%)
Average $/Square Foot: $370 (+4.2%)
Average DOM: 68.4 (+4.6%)

(Caveat: these are estimates for a small pool of local homes during 30 days. You can’t generalize about the whole real-estate market from them.)