It may surprise you to know that older and even oldest sells faster, and for more money on a price per square foot basis. In the last six months the median days on market for homes sold in King County was 50 days and the median price per square foot was $219. But you may be surprised that older sells faster and for more money per square foot.

Built prior to 1930 sold with median days on market of 33 and a price per square foot of $251

Built from 1931 to 1950 sold with median days on market of 40 days and a price per square foot of $244

Built from 1951 to 1969 sold with median days on market of 49 days and a price per square foot of $228

Built from 1970 to 1989 sold with median days on market of 56 and a price per square foot of $212

Built from 1990 to 2005 sold with median days on market of 63 and a price per square foot of 210

Built from 2006 to present sold with median days on market of 52 days and a price per square foot of $207

Surprised? Don’t be. It’s the old “Location, Location, Location!”

Every time someone built a house, going back to Seattle’s First Hill, by and large they chose the very best location to build on. Chances are if you were to go out right now and find the absolute best place to build a house, there will already be one built there.

Often people will assume newer is better and new is best. Not so. Most often the place where a builder can put up more than one house and as many as 50, the location is inferior…and consequently available.

If you ever doubted the mantra “Location, Location, Location!” then look at the proof. Older sells faster and for more money on a price per square foot basis because people choose location over house…almost always, and rightly so. And most often best location equals oldest house.