Market Mondays: Woodinville

 

 

 

The city of Woodinville is most well known as Seattle areas “wine country” and is increasingly known for its local wineries, which showcase wines from grapes grown in Eastern Washington including Chateau Ste. Michelle (well known for their popular summer concert series), Columbia Winery and dozens of other smaller ones. The Woodinville Tourist District is also home to the Redhook Ale Brewery and several fine restaurants including The Herbfarm “destination” restaurant. The downtown area includes Molbak’s Garden and Home, a nationally acclaimed garden center! All that being said, Woodinville is a sought after place to live and has seen only a slight change in market statistics over the past year.

As of July 28th, 2014 there is 2.5 month supply in inventory based on closed sales, which is up slightly from June of this year.  What is interesting is that when the current pending sales are added to the mix, months supply of inventory drops down to 1.5.  Woodinville itself is a consistently stable market, the months inventory fairly stable over the past year, hovering somewhere between 1.5-2.3 months supply except for a spike in January of this year, which is to be expected during the “slow” season. This makes Woodinville unique when compared to some of it’s neighboring cities, it’s stability and high desirability make Woodinville a safe place to buy a home.  The median sale price of homes over the last 90 days was $525,000 while the median current listing price is 475,000.  The median sale price and listing price have seen only a slight increase since July 2013.

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