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|
|8826 24th Ave SW||$85,000||3||1||860||7,440 sqft||Delridge||$99||–|
|7702 8th Ave SW||$95,000||2||1||1,280||13,448 sqft||Delridge||$74||bank owned|
|9211 39th Ave S||$125,000||2||1||990||4,000 sqft||Beacon Hill||$126||–|
Two of the homes from last month are still on the market, but at $140k are no longer the cheapest. The third home from last month is now pending.
Stats snapshot for Seattle Single-Family Homes Under $200,000 (excluding short sales)
Total on market: 37
Average number of beds: 2.5
Average number of baths: 1.3
Average square footage: 1,328
Average days on market: 87
Another increase in inventory, which is odd since overall inventory (all price brackets combined) is still on the decline.
Here are a couple of charts to give you a visual of the trend of these numbers since I adjusted the methodology in April 2010:
Here are cheapest homes in Seattle that actually sold in the last month, regardless of condition (since most off-market homes don’t have much info available on their condition).
|Address||Price||Beds||Baths||SqFt||Lot Size||Neighborhood||$ / SqFt||Sold On|
|2116 S Bayview St||$97,000||2||1||960||6,000 sqft||Beacon Hill||$101||08/23/2012|
|9632 54th Ave S||$116,000||2||1||780||6,000 sqft||Rainier Beach||$149||08/28/2012|
|1240 S Cloverdale St||$120,000||3||2.5||1,360||3,000 sqft||South Park||$88||08/31/2012|
The listing photo on that last one is… something.