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 |
|---|---|---|---|---|---|---|---|---|
| 1226 S Cloverdale St | $165,000 | 2 | 1.75 | 1,440 | 6,000 sqft | South Park | $115 | – |
| 751 S Cloverdale St | $175,000 | 2 | 1.75 | 700 | 2,700 sqft | South Park | $216 | – |
| 3010 SW City View St | $185,900 | 1 | 0.75 | 370 | 2,992 sqft | West Seattle | $502 | bank owned |
The #1 and #2 homes from last month are both pending, while the #3 home from last month moved up to #2 this month. The cheapest home this month is actually a re-run from way back in 2010.
Stats snapshot for Seattle Single-Family Homes Under $200,000 (excluding short sales)
Total on market: 8
Average number of beds: 2.0
Average number of baths: 1.3
Average square footage: 1,078
Average days on market: 95
Inventory of non-short sale homes under $200,000 in Seattle hit a new low point in May, dropping into the single digits for the first time since I’ve been recording this data. The other stats held more or less steady in the month.
Here are our usual 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 |
|---|---|---|---|---|---|---|---|---|
| 5733 S Gazelle St | $116,500 | 1 | 1 | 470 | 5,000 sqft | Rainier Valley | $248 | 04/11/2014 |
| 5409 Denver Ave S | $125,000 | 1 | 1 | 740 | 1,100 sqft | Georgetown | $169 | 04/22/2014 |
| 4813 S Holden St | $126,000 | 2 | 1 | 1,560 | 7,144 sqft | Rainier Valley | $81 | 04/28/2014 |