Snoqualmie Homes Sell for More – Who Knew?

Recent posts on Redfin Seattle:

If you missed the Seattle Red Carpet Event you missed a good time and some really interesting morsels shared in the home buyer’s class – fortunately for you, the slides are posted.

Redfin mined some data on what homes are actually selling for vs. the price they were listed at. In general you can expect a couple percentage points of advantage on price if you’re buyer unless you’re shopping in Snoqualmie. Surprisingly, houses and condos in Snoqualmie are selling *above* asking price. Snoqualmie is best known for its Falls that plunge down into the Snoqualmie River (unlike it’s home prices that are soaring over asking). If homes are selling over asking price that usually indicates there are multiple offers. Any comments or anecdotal stories from buyers or sellers in that part of the County?

King County Houses Sale-to-List Prices, April 1 – June 23 2008

City # Deals Final v. List Average Price
Auburn 131 98.6% $338,870
Bellevue 198 97.4% $821,883
Bothell 66 98.5% $442,362
Burien 43 98.1% $347,888
Des Moines 55 97.7% $299,295
Duvall 30 96.9% $496,607
Federal Way 111 98.5% $328,122
Issaquah 123 97.3% $646,272
Kenmore 39 97.5% $506,493
Kent 196 98.9% $360,366
Kirkland 135 97.3% $787,105
Lake Forest Park 20 98.9% $461,073
Maple Valley 118 98.8% $411,227
Mercer Island 56 96.5% $1,441,888
Newcastle 34 97.6% $858,459
Normandy Park 13 95.4% $577,150
North Bend 26 97.5% $431,987
Redmond 192 97.6% $672,922
Renton 278 98.2% $415,984
Sammamish 144 97.4% $696,178
SeaTac 38 98.3% $302,714
Seattle 1442 98.4% $553,891
Shoreline 105 98.3% $418,262
Snoqualmie 79 100.2% $530,302
Tukwilla 23 98.5% $329,918
Woodinville 51 98.1% $727,207

King County Condos Sale-to-List Prices, April 1 – June 23 2008

City # Deals Final v. List Average Price
Auburn 35 98.2% $214,646
Bellevue 109 97.6% $373,350
Bothell 32 98.5% $259,634
Burien 17 99.1% $196,747
Des Moines 15 98.4% $257,233
Duvall 2 98.2% $234,757
Federal Way 34 99.0% $174,542
Issaquah 101 98.5% $312,222
Kenmore 8 99.7% $250,148
Kent 61 98.5% $230,368
Kirkland 101 96.9% $404,509
Mercer Island 5 95.1% $472,000
Newcastle 7 98.9% $313,836
Redmond 68 98.1% $333,342
Renton 58 97.7% $236,964
Sammamish 9 98.3% $291,033
SeaTac 9 96.6% $219,470
Seattle 538 98.2% $399,317
Shoreline 25 98.1% $249,899
Snoqualmie 15 102.0% $210,398
Tukwilla 9 99.2% $176,242
Woodinville 7 99.6% $295,932
  • madser

    I just want to clarify if the final sale price was actually the original sales price or if the final price was actually the price after a number of reductions??? – from what I see on redfin – prices seem to be falling all the time? If the price does not reflect the original asking price as these stats rather mis-leading??

  • http://www.redfin.com Bahn Lee

    I think you meant the original list price or the final list price because the final sale price is what it is. We took final list price and compared it what homes actually sold for. This study tell us that there is negotiating room (often significant) in every city but Snoqualmie.

  • Marie

    The final price was what the home sold for. The list price was the list price at the time of the offer, so there may have been one or more price reductions prior to getting any offers. This does not indicate time on market.

    This is really not a statement about prices falling or increasing, just a good barometer on what you can expect in the negotiation process. Price reductions are made when there are no offers. Once you have an offer, this information is saying by enlarge buyers/sellers should expect the home to go for a couple percentage points below the list price once the list price is within bidding range… that is of course unless you live in Snoqualmie.

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