Numbers in red reflect last week’s totals.

New listings: 2 (2)

Active Listings:    21(22)

Sold subject to inspection:  1(0)

Pending:  0(0)

Closed Sales:  0 (2)

Number of Price Reductions:  1(1)
———————————–
Number of homes available:    21(22)

0-$349,999:   0(0)

$350,000-$499,999:   4(7)

$500,000-$749,999:    6(6)

$750,000-$999,999:   5(4)

$1,000,000- $1,499,999:   4(3)

$1,500,000- $2,999,999:   2(2)
———————————–
Average Price: $880,035 ($676,483)
Median Price:   $750,000 ($587,495)

Average Days on Market: 68 (66)

Highest Priced Listing: $1,825,000 (same)

Lowest Priced Listing: $435,000($399,950)

(data from NWMLS)

My analysis of this week’s real estate buzz:

 We have a sale!  The home that received an offer had originally been listed for $509,950, but ultimately was relisted as a new listing with a price of $479,950.  It received an offer at this new price.  The home for sale in the same cul-de-sac has this week’s reduced price with  a drop of $25,000 from $499,950 to $475,000. The new listings that came on the market were priced in the low 800′s and about $1,5 million.  The listing priced at $399,950, which represented lot value, is no longer on the market.

The median and average prices for the neighborhood are higher this week because the prices for homes not listed in the MLS as being in The Highlands, but are really located in The Highlands, have been factored into the numbers. These numbers are more accurate for the neighborhood than the numbers listed in previous weeks.

The neighborhood has done a great job with the  excitement of “Extreme Makeover” happening in the Highlands. 

I think our area is one of the best in the country for real estate, as I have stated in many of my comments on The Seattle PI Real Estate Professionals blog.  There was also a great article in Forbes magazine supporting Seattle as a bright spot for real estate in the country.  If we look at the above numbers, 2 months as an average market time is not that big of a deal.  It only seems to be a long time because homes sold so quickly in the past.  The market here is simply a more realistic market.