Market UpdatesQueen Anne February 11, 2021

Queen Anne Update January 2021

January 2020

January 2021

was a Seller’s market in Queen Anne!

Property Sales (Sold)

January property sales were 36, up 100% from 18 in January of 2020 and 2.7%
lower than the 37 sales last month.

Current Inventory (For Sale)

Versus last year, the total number of properties available this month is higher by
20 units of 125%. This year’s bigger inventory means that buyers who waited to
buy may have bigger selection to choose from. The number of current inventory
is down 16.3% compared to the previous month.

Property Under Contract (Pended)

There was a decrease of 4.7% in the pended properties in January, with 41
properties versus 43 last month. This month’s pended property sales were
127.8% higher than at this time last year.

 

The Average Sold Price per Square Footage in Queen Anne is Depreciating*

The Average Sold Price per Square Footage is a great indicator for the direction
of property values. Since Median Sold Price and Average Sold Price can be
impacted by the ‘mix’ of high or low end properties in the market, the Average
Sold Price per Square Footage is a more normalized indicator on the direction of
property values. The January 2021 Average Sold Price per Square Footage of
$578 was up 6.4% from $543 last month and up 15.4% from $501 in January of
last year.

The Days on Market Shows Neutral Trend

The average Days on Market (DOM) shows how many days the average
property is on the market before it sells. An upward trend in DOM trends to
indicate a move towards more of a Buyer’s market, a downward trend indicates a
move towards more of a Seller’s market. The DOM for January 2021 was 49, up
48.5% from 33 days last month and up 14% from 43 days in January of last year.

The Sold/Original List Price Ratio Remains Steady

The Sold Price vs. Original List Price reveals the average amount that sellers are
agreeing to come down from their original list price. The lower the ratio is below
100% the more of a Buyer’s market exists, a ratio at or above 100% indicates
more of a Seller’s market. This month Sold Price vs. Original List Price of 96% is
down 2% % from last month and up from 2.1% % in January of last year.

 

The Average For Sale Price is Depreciating

The Average For Sale Price in January was $2,024,000, down 20.5% from
$2,545,000 in January of 2020 and up 8.2% from $1,871,000 last month

The Average Sold Price is Neutral

The Average Sold Price in January was $981,000, up 2% from $962,000 in
January of 2020 and down 10.2% from $1,093,000 last month.

The Median Sold Price is Neutral

The Median Sold Price in January was $860,000, down 6.4% from $919,000 in
January of 2020 and down 17.7% from $1,045,000 last month.

 

Months of Inventory based on Closed Sales

The January 2021 Months of Inventory based on Closed Sales of 1 was
increased by 11.2% compared to last year and down 17.2% compared to last
month. January 2021 is Seller’s market.

Months of Inventory based on Pended Sales

The January 2021 Months of Inventory based on Pended Sales of 0.9 was the
same compared to last year and down 10% compared to last month. January
2021 is Seller’s market.

 

 

 

 

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