$2,599,990
5,629 SqFt
Phala Sir, Listing Office: Pellego, Inc.
Is Lake Union, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Lake Union has remained a Seller's Market.
Key Takeaway
Lake Union is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Union, WA
How much do homes in Lake Union, WA cost?
Median Sold Price
$922,500
$647/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$42,500(+4.8%)
Key Takeaway
Homes in Lake Union have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Lake Union was $922,500 in November 2024, up 4.8% from last year, and the median price per square foot was $647.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $420K | $450K | +7.1% |
| 2 Bedrooms | $750K | $775K | +3.3% |
| 3 Bedrooms | $986.9K | $1.0M | +6.4% |
| 4 Bedrooms | $1.2M | $1.3M | +8.3% |
| 5+ Bedrooms | $1.8M | $1.6M | -10.9% |
Summary: Lake Union housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 10.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Eastlake | $750K | $950K | +26.7% |
| Lake Union | $880K | $922.5K | +4.8% |
| East Queen Anne | $1.0M | $1.0M | +2.8% |
Housing Supply in Lake Union, WA
How many homes are available in Lake Union, WA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 153 | 125 | -18.3% |
Summary: The Lake Union real estate market had 125 homes for sale in November 2024, a 18.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 26 | 21 | -19.2% |
| 2 Bedrooms | 65 | 60 | -7.7% |
| 3 Bedrooms | 44 | 33 | -25.0% |
| 4 Bedrooms | 12 | 7 | -41.7% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Lake Union housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 19.2%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 41.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 52 | 30 | -42.3% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Union, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in Lake Union in November 2024, down by 42.3% month-over-month. Of the 30 sold homes, 60% were sold under asking, 30% were sold at asking, and 10% were sold over asking.
Days on Market for Lake Union, WA
How long does it take to sell a home in Lake Union, WA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 24 Days | -10.1% |
Summary: Homes in Lake Union had an average of 24 days on market in Nov 2024, down by 10.1% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Union are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 30 homes were sold in Lake Union; 63% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.