Monthly Archives: May 2011

April Home Sales in Queen Anne Up From One Year Ago

The good news: According to the Northwest Multiple Listing Service, 50 units sold in Queen Anne for the month of April, compared to 44 units in April, 2010, during the end of the Homebuyer Tax Credit frenzy.  The bad news, depending on your perspective:  The average sales price per square foot in April 2011 was $309 ($273 Residential, $346 Condo).  Down from $319 from April 2010 ($285 Residential, $348 Condo)

36% of the Queen Anne sales in April 2011 were either bank owned properties or short sales.  Compared to just under 12% in 2010.  However, keep in mind that several bank owned sales in April 2011 were high end condos taken back from the developer by the bank.

Just from my own observations I think Queen Anne condo sales are on their way to a modest recovery. Rents are rising in the area and it will be a matter of time before potential renters/buyers look at the low cost of condos (compared to the boom years) and decide it makes more econonic sense to buy rather than rent.

Rummage Sale at John Hay Elementary for Japan Disaster Relief

On Saturday, May 21 from 9:00 a.m. to 12:00 p.m., students from John Hay Elementary in Queen Anne will be hosting a rummage sale.  The proceeds from the sale will go toward disaster relief for Japan.  Students will also be selling baked goods and coffee at the event.  Please come out and find a “treasure” or some goodies for a great cause!

Winter Queen Anne Home Sales Roughly the Same as 2009-2010

From November 1, 2010 through April 30 2011, 218 residential units sold in the Queen Anne neighborhood according to the Northwest Mutiple Listing Service.  This compares to 230 units sold during the same time period one year earlier at the height of the Homebuyer Tax Credit frenzy.  Twenty one properties over one million dollars have sold during the 10-11 period, including 8 condos.  Seventeen properties sold for over one million dollars during the 09-10 period, including 5 condos.  On the flip side, 52% of all sales in the 10-11 period were for less than four-hundred thousand dollars, compared to only 44% of all sales in the 09-10 time period.

These statistics indicate that buyers are beginning to re-engage follwing the expected post tax credit lull.  Also, there is still a slight downward pressure on pricing, which encompasses the entire Puget Sound region.