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|
|7764 10th Ave SW||$175,000||2||1||630||4,200 sqft||Delridge||$278||–|
|4806 S Rose St||$180,000||2||2||850||4,750 sqft||Rainier Valley||$212||bank owned|
|854 S Thistle St||$199,000||2||1||2,020||7,500 sqft||South Park||$99||–|
The #1 home from last month is now pending, #2 was taken off the market, and #3 was disqualified with the addition of a mention of rehab financing. To find three homes that fit our criteria I had to go all the way up to the $200,000 line. It may be time to retire this series, or adjust our threshold.
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: 1,230
Average days on market: 55
Inventory of non-short sale homes under $200,000 in Seattle stayed at the new low point set in May. Beds and baths were the same as May, while square footage shot up and days on market fell.
Here are our usual charts to give you a visual of the trend of these numbers since I adjusted the methodology in April 2010:
Here are cheapest homes in Seattle that actually sold in the last month, regardless of condition (since most off-market homes don’t have much info available on their condition).
|Address||Price||Beds||Baths||SqFt||Lot Size||Neighborhood||$ / SqFt||Sold On|
|5965 21st Ave SW||$120,000||2||1||720||7,598 sqft||Delridge||$167||05/21/2014|
|9012 2nd Ave S||$121,000||3||2||1,430||2,550 sqft||South Park||$85||05/21/2014|
|7925 18th Ave SW||$125,000||2||1||770||6,450 sqft||Delridge||$162||05/30/2014|