Northwest Seattle: Acceleration

Sales are accelerating. The average number of days for Redfin listings has dropped for all northwest neighborhoods: 6.7% in Ballard, 12.7% in Fremont/Wallingford, and 12.2% in Green Lake/Phinney Ridge. There are still quite a few houses that sit around for months, but the dip in averages implies that they’re counterbalanced by more and more quick sales. Ah, the optimism of spring.

Ballard

# For Sale: 117 (+21.9%)
Average List Price: $459,950 (-0.4%)
Average Square Footage: 1561 (-1.6%)
Average $/Square Foot: $379 (+0.5%)
Average DOM: 56 (-6.7%)

Fremont/Wallingford

# For Sale: 182 (+5.8%)
Average List Price: $519,925 (+0.3%)
Average Square Footage: 1640 (-4.0%)
Average $/Square Foot: $399 (+9.3%)
Average DOM: 55 (-12.7%)

Green Lake/Phinney Ridge

# For Sale: 151 (+16.2%)
Average List Price: $469,000 (+1.4%)
Average Square Footage: 1691 (-9.5%)
Average $/Square Foot: $343 (+2.7%)
Average DOM: 43 (-12.2%)

The Green Lake/Phinney Ridge area continues to add listings (they jumped 32.7% last month) and see price creep (up 3.5% overall since February). Something to watch.

I took these numbers from the Redfin database on Apr. 1 (percentages in parentheses indicate the change from the Mar. 1 number).

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

  • Mark

    Does the dip in DOM imply “more and more quick sales?” Or simply higher inventory? Is the average DOM just a snap-shot? or are you looking at the DOM of homes *sold* during March?

  • http://blog.redfin.com/seattle/ Amy Helen Johnson

    Your theory is as valid as mine. The data imply a recent surge in new inventory, too. The only way to pinpoint microtrends is to dissect the whole inventory picture in detail on a daily basis. I give a monthly snapshot, but the data’s there each day on Redfin if you’re inclined to dig deeper.