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|
|1010 S Trenton St||$95,000||2||1||820||12,197 sqft||South Park||$116||-|
|7528 16th Ave SW||$99,900||2||1||1,320||6,000 sqft||Delridge||$76||bank owned||4400 S Webster St||$129,900||2||2||1,480||6,450 sqft||Rainier Valley||$88||bank owned|
Number 1 and 2 carried on from last month, while last month’s #3 home sold.
Stats snapshot for Seattle Single-Family Homes Under $200,000 (excluding short sales)
Total on market: 48
Average number of beds: 2.5
Average number of baths: 1.3
Average square footage: 1,271
Average days on market: 100
Inventory keeps falling in this segment, just like everywhere else. Meanwhile, the other stats all took a hit as well, except for days on market, which shot up. That would seem to indicate that more and more what’s on the market in this price range is the junk that nobody really wants, at any price.
Here are a couple of charts to give you a visual of the trend of these numbers since I adjusted the methodology in April 2010:
Here are cheapest homes in Seattle that actually sold in the last month, regardless of condition (since most off-market homes don’t have much info available on their condition).
|Address||Price||Beds||Baths||SqFt||Lot Size||Neighborhood||$ / SqFt||Sold On|
|3602 S Holly St||$70,000||2||1||1,020||5,000 sqft||Beacon Hill||$69||05/07/2012|
|4700 S Mead St||$75,000||2||1||2,080||2,575 sqft||Rainier Valley||$36||05/15/2012|
|4224 S Orcas St||$90,800||2||1||890||3,090 sqft||Columbia City||$102||05/17/2012|