Seattle Real Estate: Laurelhurst Buyers Beware: You Can’t Walk All Over Seattle Sellers Anymore!

Seattle real estate is changing….again.  For the last couple of years, buyers have been having their way with sellers in all kinds of sweetheart deals when it comes to “negotiating”.  Times are changing and those list prices are not so squishy anymore – no matter how good your agent is at negotiating.  The fact of the matter is that Seattle suburbs are still declining or struggling to stabilize, but Seattle in city is picking up steam and certain Seattle neighborhoods are going STRONG.  
 
Seattle Neighborhoods like Queen Anne and Laurelhurst in particular are MOVING and prices are not being tampered with in large part. Let’s look at Seattle’s Laurelhurst Neighborhood:
 
Laurelhurst has 33 closed residential sales of homes in the last six months – they ranged from a list price of $399,000 to $12,800,000 (with neither of those properties representing the majority of Laurelhurst homes for sale by the way). The average listing price of these 33 Laurelhurst homes for sale was $1,200,676 with an average selling price of $1,134,926.  The average price per square foot for listings on these was $339/square foot and the dollar per square foot average for the selling prices was $326/ square foot. For properties that stayed on the market for only 30 days or less of which there were 15, the sales price to listing price average was over 97.5%.   These were well-priced homes that took an average of less than 2.5% in negotiated sales price to list price. The number varied depending on days on market, but Laurelhurst held strong for the most part.
 
One could argue that you should take out those two non typical Laurelhurst sales.  I agree as they do skew the number significantly.  Taking out the high and the low sold homes, The dollar per square foot changes to $306/ square foot for listing prices and $296/ square foot for selling prices.  This is significant in my opinion. The average listing price then drops to $852,365 and the average sales price drops to $824,598.
 

Laurelhurst is an interesting Seattle neighborhood because you do have to look at comps street by street and sometimes house by house. Many different neighborhood factors weigh in on current market value as well of these homes.  Is the property in the boundaries for the Laurelhurst Beach Club?  Does it have a view of Lake Washington?  Is it waterfront Laurelhurst property? Is the home well maintained and maybe near a great Laurelhurst feature like the Laurelhurst Community Club?  The list goes on.

 
Laurelhurst Real Estate right now:  If you want look at Laurelhurst homes for sale right now, you will see some beautiful inventory, but not a lot of it. Currently there are 13 homes available in Laurelhurst  – they range from $499,950 for a 2 bedroom 1 bath home to $4,500,000 for a 3 bedroom 1952 home on the Laurelhurst Waterfront.  The average list price of these is $1,466,915 and the average dollar per square foot is up to $421/square foot.  There is also one contingent property in the Beach Club boundaries for $350/square foot with a list price of $969,900. Laurelhurst is clearly holding its own in value this year!
 
Want to see all the available Seattle homes for sale in Laurelhurst right now?

Comments

  1. I was just previewing in Laurelhurt TODAY and there were sold signs all over the place! Great article Courtney!