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|
|9211 39th Ave S||$125,000||2||1||990||4,000 sqft||Beacon Hill||$126||–|
|4213 S Kenny St||$129,900||4||2.5||1,540||3,150 sqft||Rainier Valley||$84||bank owned|
|8719 10th Ave S||$150,900||2||1||680||4,410 sqft||South Park||$221||bank owned|
One of the homes from last month sold, another is pending, and the third carried over to this month.
Stats snapshot for Seattle Single-Family Homes Under $200,000 (excluding short sales)
Total on market: 28
Average number of beds: 2.4
Average number of baths: 1.4
Average square footage: 1,238
Average days on market: 98
Inventory fell, but beds, baths, and square footage all rose. Days on market shot up over 20 days.
Here are a couple of charts to give you a visual of the trend of these numbers since I adjusted the methodology in April 2010:
Here are cheapest homes in Seattle that actually sold in the last month, regardless of condition (since most off-market homes don’t have much info available on their condition).
|Address||Price||Beds||Baths||SqFt||Lot Size||Neighborhood||$ / SqFt||Sold On|
|12503 14th Ave NE||$70,000||3||2||1,690||5,111 sqft||Pinehurst||$41||11/30/2012|
|1801 17th Ave S||$75,000||3||2||1,920||8,881 sqft||Beacon Hill||$39||12/04/2012|
|99009 3rd Ave S||$78,499||3||1||950||3,774 sqft||South Park||$83||12/28/2012|
All three of these look like they are probably extreme fixers. I wouldn’t be surprised to see them all end up back on the market in a few months, listed for at least twice the December price.