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Health & Fitness

Demand for Lake Forest Park-Sheridan Beach real estate holding steady

Demand for Lake Forest Park-Sheridan Beach real estate holding steady

In the first quarter of 2013 the Lake Forest Park-Sheridan Beach community recorded 69 closed sales, 20% were cash purchases and 59% of the sales were either at list or above asking price. Compared to 62 closed sales for the same period a year earlier. 

 

The median List prices  for the  Lake Forest Park/Sheridan Beach area  is $350,000  isdown from  last week’s $362,000.  Demand measured by the Market Action Index (MAI see below graph) is increasing and days-on-market is holding steady.   With more properties  coming available, conditions are mildly positive.   Stop by  next week to see how the housing market in Lake Forest Park is trending.

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The Lake Forest Park/Sheridan Beach  area registered 36 closed sales in June 2013  compared to 45  for the same month a year earlier, 25 of the 36 sales closed at or over the Seller’s list price.  22%  of the closed sales in June were cash sales.   A sign that buyers were pulling out all stops to remove financing contingencies in a very competitive buying Lake Forest Park marketplace.

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Supply and Demand 

The  Lake Forest Park-Sheridan Beach real estate market has been cooling over time and prices have recently flattened.  Despite the consistent decrease in the Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available).  If the MAI begins to climb, prices will likely follow suit.  If the MAI  drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.   Get the full report. 

 Price

Again this week  in the  Lake Forest Park/Sheridan Beach we see a downward notch for prices.  Pricing has been weak in recent weeks and versus their absolute-high level.  At this point, we well be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.  

Is it the right time to sell your Lake Forest Park Sheridan Beach home?

Many homeowners are asking the same question, “has the value of our home increased to the point we can sell it?”  Fill out our  form  and find out for FREE.

New listing within the last 7 days

New bank owned and short sales within the last 7 days

Pending sales within the last 7 days Upcoming open houses

Percent of properties with price decreases 26% (up 4%)

Average days on market (DOM) 81 down from last week’s 75

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