Activity for the past 30 days in Ravenna Park

As a rule, the real estate market slows considerably in December and on the heels of a slow year, this December is no exception. Some sellers recognized the need to cut their prices drastically and they have achieved sales. It's a time to make your home the most attractive property on the market if you are interested in getting it sold.

There are only 4 homes currently on the market. Two of these just came on in the past week. The other 2 have been on the market for about two months.

One expensive home, the one on NE 62nd now has a firm sale after being on the market for 117 days and having reduced the price from $979,500 to $825,000.

Two other homes have recently closed. 6325 NE 18th came on the market at the real deal price of $315,000 and sold for $325,000 with just 1 day of market time. And across the street at 6328 18th Ave NE, after a whopping 512 days on market, sold for $500,000 after originally being listed for $788,000. Both were listed by out of area agents. Were the prices too high or too low to start with? Were the sellers trying to "test the market" or "just wanting it to sell fast." You be the judge.

I expect things to be pretty quiet through the holiday season. Some buyers will be out looking for a good deal, but most sellers will wait and see what 2011 offers by way of rising prices.

Investors are back in the market. There is job growth in the South Lake Union area and downtown. Financing is easy if your credit is good and the interest rates are exceptionally low.