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|
|7766 10th Ave SW||$88,000||1||1||600||4,200 sqft||Delridge||$147||bank owned|
|9211 39th Ave S||$125,000||2||1||990||4,000 sqft||Beacon Hill||$126||–|
|502 S Donovan St||$139,800||3||1||1,130||9,000 sqft||South Park||$124||–|
One of the homes from last month is now pending, another has sold.
Stats snapshot for Seattle Single-Family Homes Under $200,000 (excluding short sales)
Total on market: 38
Average number of beds: 2.2
Average number of baths: 1.2
Average square footage: 1,205
Average days on market: 93
Very slight increase in inventory, but drops in beds, baths, and square footage. Days on market increased.
Here are a couple of charts to give you a visual of the trend of these numbers since I adjusted the methodology in April 2010:
Here are cheapest homes in Seattle that actually sold in the last month, regardless of condition (since most off-market homes don’t have much info available on their condition).
|Address||Price||Beds||Baths||SqFt||Lot Size||Neighborhood||$ / SqFt||Sold On|
|4825 S Orchard St||$61,900||2||1||830||3,680 sqft||Rainier Valley||$75||09/24/2012|
|3836 23rd Ave SW||$80,000||2||1||850||5,000 sqft||Delridge||$94||09/26/2012|
|3720 37th Ave S||$110,000||3||2||1,750||11,362 sqft||Rainier Valley||$63||09/19/2012|
The MLS says that first one is still pending, but public records show it having sold on the 24th.