Way back in September we launched our latest price-guessing contest: Guess the Price Round 7: West Seattle Almost-Beach. Forty readers made guesses this round before the contest deadline.
Today’s “Guess the Price” guest star is 3015 64th Ave SW in West Seattle.
This round’s home hit the market last Wednesday with an asking price of $529,000. It last sold almost 13 years ago in November 2000 for $320,000, so today’s asking price represents average annual appreciation of just under 4 percent. For reference, the Case-Shiller index for Seattle has gained roughly 3 percent per year over the same period, a rate that would put the current value of this home at $475,000.
Your guesses ranged from $425,000 to $540,000. The average price guessed was $512,220, and the median guess was $515,000. Here’s the plot of all the guesses, with the final close price & date marked in green:
According to the NWMLS, the home sold on January 31 (almost five months after listing), with a closing price of $451,000. Only one person guessed lower than the sale price. However, that person was not the closest. The closest guess was $468,850 by Anna. Congratulations!
Here’s the difference between the average guess and the final sale price our contests so far:
Bummer, you guys were way off this time around. Never thought I would say this, but apparently we have far too optimistic a crowd here! Heh.
Stay tuned in the next few weeks, when we’ll kick off another round of Guess the Price.