March Home Sales in Queen Anne Show Rising Property Values

According to the NWMLS, 45 units (16 single family and 29 condos) were sold in Queen Anne in March, 2013 compared to 38 sales (20 single family and 18 condos) in March of 2012.  Sheer volume is always a bit low in March because a majority of the contracts were actually signed and negotiated in February, which itends not to be a busy real estate month.

Although more actual single family units sold in 2012 (20) than in 2013 (16), the striking statistic is the price per sq. ft. of $303 in 2013 compared to $263 in 2012.  Also, out of the 16 sales in Queen Anne in March, 2013 11 sold in 20 days or less and 10 sold in a week or less.  Compared to 8 and 4 in 2012.  The lesser volume of sales is simply a reflection of lack of inventory that has been plaguing  Queen Anne the last several months.

Sold condos in Queen Anne came in slightly higher on a price per sq. ft. basis in 2013 ($302) than 2012 ($300) and each year saw roughly half of the sold condos sell in 20 days or less.  Of note the median sale price in 2012 was only $207K compared with 315K in 2013.

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