Sensing a theme here? Due to lower inventory the number of Queen Anne single family home sales in the month of May, 2013 (33) was lower than in May 2012 (41) but the price per sq. ft. was sgnificantly higher in 2013 ($325 to $290 in May 2012). The proportion of quick sales also remained higher as 24 of the 33 May 2013 sales were less than 20 days and 20 of the 33 10 days or less as compared to 19 of the 41 in May 2012 being sold in 20 days or less and 13 of the 41 in 10 days or less.
Volume of condo sales remained higher in 2013 (35 compared to 26 sales in May, 2012) as did the price per sq. ft. ($342 in 2013 to $320 in 2012). Average days on market in 2013 was 41 compare to 88 in may, 2012.
According to the NWMLS, 26 single family homes sold in Queen Anne for the month of April, 2013. Of these 26 homes 21 sold in less than 20 days and 19 sold in less than 10 days. The usual practice has been to place a property on the market and then have the seller “review offers on” a particular date, typically a week or so after the property was first placed on the market. So it is increasingly rare to see a property sell in 1-5 days. The average price per sq. ft. was $332 which reflects an increase of 7.5% over the $310 price per sq. ft. in April, 2012. 39 single family homes sold in April, 2012. 24 homes were sold in 20 days or less and 18 in a week or less. Again, there was simply more inventory in 2012, thus an additional 50% in sales volume.
42 Condos sold in Queen Anne in April 2013 compared to 29 in April 2012. Price per sq. ft. in 2013 was $365 compared to $282 in 2012. Again the condo units sold quicker in 2013 with 30 out of 42 selling within 20 days and 26 of those selling within a week. compare that with 11 of 29 selling in 20 days or less in 2012 and only 6 of 29 selling in a week or less. Inventory is not nearly as big an issue in the Queen Anne condo market compared to the single family market.
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.
According to the NWMLS, a total of 39 residential and condo units sold in January, 2013 in Queen Anne as compared to just 18 units in January 2012. This comes as little surprise to this author because January 2012 is really the benchmark of when the Queen Anne housing market began to pick up steam. Any January, 2012 closed sales had been negotiated in December, 2011 or later.
Queen Anne saw 17 residential closed transaction in January, 2013 compared to just 9 in January, 2012. Price per sq. ft in 2013 was $326 compared to $302 in 2012. The avearage days on market in 2013 was 105 as compared to 58 in 2012. That statistic is a bit misleading because most of the inventory still around in December has been around a while and very few new listings hit the market during this month. 6 of the 17 solds in 2013 were under contract in less than 20 days compared to just 2 of the 9 solds in 2012.
There is an even bigger difference in Condo sales. 22 solds in January 2013 compared to 9 in 2012. Price per sq. ft. in 2013 was $319 compared to $233 in 2012. 9 of the 22 2013 solds were under contract in less than 20 days as compared to 2 of the 9 solds in 2012.
February sales compared to 2012 will be vey interesting. Stay tuned!