Posts Tagged ‘queen anne hill real estate market update’

Seattle’s West Queen Anne Hill Real Estate Market Today

Thursday, September 8th, 2011

Real Estate Market Chart by Altos Research

The 90-day Roling Average for west Queen Anne Hill-Appears to be

trending relatively stable from mid July through the first week of September 2011.

Real Estate Market Chart by Altos Research

The Market Action Index (MAI) for West Queen Anne Hill represents the balance between

supply and demand using a statistical function of the current rate of sales compared to

current inventory. An MAI greater than 30 indicates a Seller’s Market, which usually

means demand is high and inventory is being quickly absorbed. MAI below 30 indicates

a Buyer’s Market, the lower the number typically causes prices to fall. The demand trend

is starting to trend up but it still has a ways to go before it turns from a buyer’s market

to a seller’s market. Low inventory levels can help expedite this change.

Real Estate Market Chart by Altos Research

Days on Market-Have steadingly been coming down since March of 2011 to just under

100 days in September.  Low interest rates and inventory levels declining on

West Queen Anne Hill have reduced the time on market of available homes

for sale. Generally there’s less homes on the market over Fall and Winter.

Real Estate Market Chart by Altos Research

Inventory levels in West Queen Anne Hill  bottomed-out in early spring and have

started trending upward until mid-August where the levels have appeared to flatted out.

The selection of homes could possible start to decrease during the Fall and Winter month

creating more competition from buyers that are still in the market.