Rainer Beach Market Summary As Of 10/26/09 with six months comparison

Rainer Beach Market Summary As Of 10/26/09 with a six months comparison.
This summary includes Rainier Beach, Upper Rainer Beach, Dunlap, Pritchard Beach and Kubota Gardens, with a north boundary from Kenyon, south boundary of Bangor, east boundary 62nd Ave South, and West Boundary of Martin Luther King Way, using the information available on the NWMLS.

Currently there are 51 active residential listings on the market, down from 71 six months ago.
Low $143,550 down from $145,000
Median $ 324,950 d0wn from $388,500
High $1,900,000 down from $3,385,000


Currently there are five multi - family houses on the market, down from 6 six months ago.
High price is $2,490,000 up from $1,890.000 six months ago
Median price is $1,399,000 up from $465,969 six months ago
Low is $371,00 up from $344,950 six months ago


Currently there are 12 vacant residential development lots on the market.
High price $ 1,999,950 down from $495,000
Median $ 160,00 down from $224,450


Currently there are 9 condominium units on the market, up from 7 six months ago
High price $ 310,900 down from $499,000
Median $ 120,750 down from $344.,895
Low $ 45,000 down from $203.950

The market price for a starter home starts off at $185,00 for a small two bedroom two bath room starter.
A nice family sized home can be had for $237,000 which has just had a price drop of $18,000 for a remodeled Fannie Mae owned home. This home sat vacant over a year, then toward the end of summer it was cleaned up, painted and put on the market. The house is being sold below the assessed tax value of $302,000. Price per square foot is $162. The house has been on the market for 38 days.
A new townhome can be purchased for $229k to $260k walking distance to the light rail.
A new single family detached home can be purchased for $325k.
A house with a view can be purchased for $360k
A lake Washington water front home can be purchased for $650k
A six thousand square foot Lake Washington water front estate can be purchased below assessed value at $1,900k.