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 |
|---|---|---|---|---|---|---|---|---|
| 3007 SW Elmgrove St | $169,000 | 1 | 0.75 | 430 | 4,200 sqft | Delridge | $393 | – |
| 1022 SW Portland St | $175,000 | 2 | 1 | 1,070 | 5,150 sqft | Delridge | $164 | – |
| 751 S Cloverdale St | $175,000 | 2 | 1.75 | 700 | 2,700 sqft | South Park | $250 | – |
Only one of last month’s homes has gone pending. The third-cheapest home from last month is still on the market but has been pushed off the list.
Stats snapshot for Seattle Single-Family Homes Under $200,000 (excluding short sales)
Total on market: 15
Average number of beds: 2.3
Average number of baths: 1.2
Average square footage: 1,282
Average days on market: 120
Couple more homes on the market than last month, and a huge spike in days on market. Apparently most of what’s left on the market after the big drop in inventory over the last few months is the stale homes that buyers just aren’t interested in even at rock-bottom prices.
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 |
|---|---|---|---|---|---|---|---|---|
| 9434 37th Ave S | $79,000 | 1 | 1 | 430 | 4,000 sqft | Beacon Hill | $184 | 04/30/2013 |
| 10710 56th Ave S | $121,900 | 1 | 1 | 820 | 21,825 sqft | Rainier Valley | $149 | 04/15/2013 |
| 9411 15th Ave SW | $126,000 | 1 | 1.75 | 960 | 5,772 sqft | Delridge | $131 | 04/18/2013 |