Sweet on the South Side
Realtors will tell you that all other things being equal, the more expensive your house is, the longer it’s likely take to sell. I’ve heard from more than one agent that homes in lower price ranges are more immune to real estate slumps, and it makes sense—if someone’s income takes a hit, or their expenses rise, they’re knocked down to a lower price point.
So how about the million-dollar-plus homes? Here are some that sold this summer in South Seattle, including a curiosity I’d love to understand: an 800 square foot, three bedroom, three-quarter bath house that sold for $1.14 million.
1444 Madrona Dr.
Sales Price: $1,560,000
Sold: 06/19/2007
3 br/3 ba
3,180 sq. feet
3520 E Conover Ct
Sales Price: $1,675,000
Sold: 08/15/2007
4 br/3 ba
4,190 sq. feet
324 30th Ave S
Sales Price: $1,170,000
Sold: 7/16/07
2 br/2 ba
2,900 sq. feet
429 Lakeside Ave S
Sales Price: $1,650,000
Sold: 7/13/07
3 br/2.75 ba
3,280 sq. feet
3114 S Plum St
Sales Price: $1,125,000
Sold: 7/11/2007
BEDS: 3
BATHS: 1.5
SQ.FT.: 2,080
Huh???
2110 S State St
Sales Price: $1,140,000
Sold: 08/21/2007
3 br/.75 ba
800 sq. feet
Maybe houses like these are driving the performance of South Seattle in the NWMLS breakout report. The report is available as a pdf on the NWMLS Marketing and Statistics page, see area 385.
While the entire city’s closed sales are still at 8.40% increase in median price over August 2006, South Seattle leads the pack in growth, at 27.23% over August 2006. The number of closed sales in the area are way down, but what’s selling is obviously higher priced than a year ago.
