Is Lake Union, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lake Union has remained a Seller's Market.
Housing Prices in Lake Union, WA
How much do homes in Lake Union, WA cost?
Median Sold Price
$898,995
$640/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Union was $898,995 in April 2024, up 0.8% from last year, and the median price per square foot was $640.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $447.5K | $460K | +2.8% |
2 Bedrooms | $785K | $782.5K | -0.3% |
3 Bedrooms | $1.0M | $988.8K | -5.8% |
4 Bedrooms | $1.3M | $1.2M | -3.6% |
5+ Bedrooms | $1.6M | $1.7M | +5.1% |
Summary: Lake Union housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes decreased by 0.3%, 3 bedroom homes decreased by 5.8%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes increased by 5.1%.
Median Sold Price Compared To Nearby Neighborhoods
Westlake | $525K | $600K | +14.3% |
Eastlake | $799.9K | $875K | +9.4% |
East Queen Anne | $950K | $992.5K | +4.5% |
Lake Union | $891.9K | $898.9K | +0.8% |
Housing Supply in Lake Union, WA
How many homes are available in Lake Union, WA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
138 | 155 | +12.3% |
Summary: The Lake Union real estate market had 155 homes for sale in April 2024, a 12.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 25 | 26 | +4.0% |
2 Bedrooms | 47 | 56 | +19.1% |
3 Bedrooms | 43 | 46 | +7.0% |
4 Bedrooms | 15 | 19 | +26.7% |
5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Lake Union housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4%, 2 bedroom homes increased by 19.1%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
43 | 37 | -14.0% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in Lake Union in April 2024, down by 14.0% month-over-month. Of the 37 sold homes, 49% were sold under asking, 27% were sold at asking, and 24% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
16 Days | 18 Days | +13.4% |
Summary: Homes in Lake Union had an average of 18 days on market in Apr 2024, up by 13.4% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 37 homes were sold in Lake Union; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.