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February Real Estate Analysis in Burien

It is hard to believe we are already midway through February! We have experienced some fun PNW winter weather with crisp & clear days and even a little surprise thunder & snow. The real estate is also showing signs of mixed temperatures as well. 

We started the year in a chilly winter hibernation state & we are slowly but surely thawing out and heading into spring. 

In fact, some price points are hot & back in full swing!

Properties listed under a million dollars are, without a doubt, in a sizzling seller’s market.  

Inventory remains far too low for demand resulting in the return of multiple offers. However, the major difference between now and 2020-2021 is prices are staying the same at the massive amounts they had been. The highest escalation I found for our Burien area in 2023 was 11.5% (still a significant increase for a seller).

Here is a chart illustrating the current activities for the Burien Real Estate Market:

List Price # of active List Price # of pending Sold Price # sold since January
$500-$600k 13 $500-$600k 10 $500-$600k 7
$600-$700k 7 $600-$700k 9 $600-$700k 8
$700-$800k 3 $700-$800k 2 $700-$800k 4
$800-$900k 2 $800-$900k 4 $800-$900k 5
$900k-$1.0M 3 $900k-$1.0M 2 $900k-$1.0M
$1.0-$1.2M 6 $1.0-$1.2M $1.0-$1.2M
$1.2-$1.4M 3 $1.2-$1.4M $1.2-$1.4M 2
$1.4-$1.6M 1 $1.4-$1.6M $1.4-$1.6M
$1.6-$1.8M 1 $1.6-$1.8M $1.6-$1.8M
$1.8-$2.0M 2 $1.8-$2.0M $1.8-$2.0M
$2.0M+ 1 $2.0M+ $2.0M+ 2
Total 42 Total 27 Total 28

 

As you can see, only 42 active listings… remain a firm time for sellers.

We all know that Burien is truly a hidden gem and definitely being discovered, which leads to an active, exciting real estate market here in our city!

Please continue to love our local businesses!

Angie Hall

Belle Residence

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