2015 was a great year for sellers of Queen Anne real estate. According to the Northwest Multiple Listing Service, 314 single family homes sold in all of 2015 in Queen Anne compared to 294 in 2014. Median sales price climbed 8.5% to $799,475 compared to $737,250 in 2014. The sale price to list price ratio in 2015 was 102.6% compared to 100.8% in 2014. The amount of new listings hitting the market in 2015 (369) was nearly identical to 2014 (368).
The number of 2015 Queen Anne condo sales increased from 379 in 2014 to 422 in 2015. Likewise, the median sale price rose to $355,000 from $315,000 a year earlier, an increase of just under 8%. The sales to list price ratio also increased to 101.5% in 2015 from 99.1% in 2014. New listings totaled 467 in 2015 compared to 438 in 2014.
The modest increase in new inventory is not keeping up with demand so we are continuing to see a very significant rise in sales prices. All one has to do is take a look at the number of cranes when entering the city to realize that all neighborhoods in close proximity to downtown will continue to experience high demand for real estate! If you would like to chat about the Queen Anne real estate market, ask me about it when you see me in the neighborhood or feel free to contact me sooner.