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Cheapest Homes: May 2013 Edition

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

3007 SW Elmgrove St

$169,000

1

0.75

430

4,200 sqft

Delridge

$393

-

1022 SW Portland St

$175,000

2

1

1,070

5,150 sqft

Delridge

$164

-

751 S Cloverdale St

$175,000

2

1.75

700

2,700 sqft

South Park

$250

-

Only one of last month’s homes has gone pending. The third-cheapest home from last month is still on the market but has been pushed off the list.

Stats snapshot for Seattle Single-Family Homes Under $200,000 (excluding short sales)
Total on market: 15
Average number of beds: 2.3
Average number of baths: 1.2
Average square footage: 1,282
Average days on market: 120

Couple more homes on the market than last month, and a huge spike in days on market. Apparently most of what’s left on the market after the big drop in inventory over the last few months is the stale homes that buyers just aren’t interested in even at rock-bottom prices.

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

9434 37th Ave S

$79,000

1

1

430

4,000 sqft

Beacon Hill

$184

04/30/2013

10710 56th Ave S

$121,900

1

1

820

21,825 sqft

Rainier Valley

$149

04/15/2013

9411 15th Ave SW

$126,000

1

1.75

960

5,772 sqft

Delridge

$131

04/18/2013

The post Cheapest Homes: May 2013 Edition appeared first on Seattle Bubble.

Jared Tadique - Real Estate Broker

Cell: 206-948-4320

jared@thecascadeteam.com

JaredSellsHomes.com

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