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 |
|---|---|---|---|---|---|---|---|---|
| 1502 SW Henderson St | $88,000 | 2 | 1 | 720 | 4,125 sqft | Delridge | $122 | bank owned |
| 9438 5th Ave SW | $99,900 | 2 | 1 | 750 | 9,000 sqft | Highland Park | $133 | bank owned |
| 522 S Concord St | $113,000 | 1 | 1 | 420 | 6,000 sqft | South Park | $269 | – |
Last month’s number two was the only one not to carry over to this month. At over $120 per square foot, none of these homes seems like an especially great deal, so I can see why they would linger on the market for a while.
Stats snapshot for Seattle Single-Family Homes Under $200,000 (excluding short sales)
Total on market: 106
Average number of beds: 2.6
Average number of baths: 1.4
Average square footage: 1,276
Average days on market: 87
Slight increase in inventory, average beds, and square footage, resuming the trends we saw before last month’s flatline.
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 |
|---|---|---|---|---|---|---|---|---|
| 5121 NE 68th St | $91,236 | 3 | 2 | 1,740 | 11,160 sqft | View Ridge | $52 | 06/08/2011 |
| 6946 24th Ave SW | $94,900 | 3 | 1.5 | 1,210 | 5,450 sqft | Delridge | $78 | 06/29/2011 |
| 10461 57th Ave S | $100,500 | 2 | 1 | 1,160 | 7,200 sqft | Rainier Valley | $87 | 06/22/2011 |