Let’s check in again on the cheapest homes around Seattle proper. Here’s our methodology: I search the listings for the cheapest homes currently on the market, excluding short sales, in the city of Seattle proper. Any properties that are in obvious states of extreme disrepair based on listing photos and descriptions will be excluded. This includes any listing that uses the phrases “fixer,” “rehab loan,” or “value in land.” I post the top (bottom) three, along with some overall stats on the low end of the market.
Please note: These posts should not be construed to be an advertisement or endorsement of any specific home for sale. We are merely taking a brief snapshot of the market at a given time. Also, just because a home makes it onto the “cheapest” list, that does not indicate that it is a good value.
Here are this month’s three cheapest single-family homes in the city limits of Seattle (according to Redfin):
| Address | Price | Beds | Baths | SqFt | Lot Size | Neighborhood | $ / SqFt | Notes |
|---|---|---|---|---|---|---|---|---|
| 8137 10th Ave SW | $115,000 | 2 | 1 | 550 | 5,000 sqft | Delridge | $209 | bank owned |
| 9026 10th Ave SW | $119,900 | 2 | 1 | 770 | 4,760 sqft | Delridge | $156 | bank owned |
| 10715 59TH Ave S | $119,900 | 3 | 1 | 1,360 | 7,683 sqft | Rainier Valley | $88 | bank owned |
All three are new since our last update. Two of the top three from our last update were pulled from the market without selling, while the third went pending on February 8th.
Stats snapshot for Seattle Single-Family Homes Under $200,000 (excluding short sales)
Total on market: 106
Average number of beds: 2.6
Average number of baths: 1.3
Average square footage: 1,235
Average days on market: 105
Inventory, beds, and baths are all holding steady, but the average square footage and days on market continued to steadily increase.
Here are a couple of charts to give you a visual of the trend of these numbers since I adjusted the methodology last April:
Here are cheapest homes in Seattle that actually sold in the last month, regardless of condition (since most off-market homes don’t have much info available on their condition).
| Address | Price | Beds | Baths | SqFt | Lot Size | Neighborhood | $ / SqFt | Sold On |
|---|---|---|---|---|---|---|---|---|
| 9929 Beacon Ave S | $107,000 | 3 | 1.5 | 1,770 | 9,736 sqft | Rainier Valley | $60 | 02/11/2011 |
| 5110 S Medley Ct | $110,000 | 3 | 1 | 2,700 | 5,663 sqft | Rainier Valley | $41 | 02/22/2011 |
| 4101 Delridge Wy SW | $118,200 | 2 | 1.5 | 1,200 | 2,483 sqft | North Delridge | $98 | 02/18/2011 |
I predict that at least one of these will pop back on the market within six to nine months as a rehab flip. Number two seems like an especially good candidate.