Sunday Night Stats

King County Residential Sales

Active/For Sale – 9631- UP 195 – median price $525,000- UP $950

In Escrow – 2701- UP 73 – median price $449,000 – no change

Closed YTD – 2551- UP 271 – median price $436,000 – UP $1,000

King Conty Condo Sales

Active/For Sale – 3,441 – UP 75 – median price $324,950 – UP 100

In Escrow – 897 – UP 29 – median price $299,950- DOWN $14,500 (asking prices)

Closed YTD – 847 – UP 85 – median price $285,000 – UP $5,000

Median SFH Home Prices of Property Currently In Escrow

$644,950 Bellevue
$484,000 Bothell (King County)
$654,500 Issaquah
$508,950 Kenmore
$684,000 Kirkland
$685,940 Redmond
$367,475 Shoreline

For Seattle, SFH includes townhomes

$479,950 98103
$459,000 98107
$577,000 98115
$475,500 98117

“Statistics not compiled or published by NWMLS.

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ARDELL is a Managing Broker with Better Properties METRO King County. ARDELL was named one of the Most Influential Real Estate Bloggers in the U.S. by Inman News and has 33+ years experience in Real Estate up and down both Coasts, representing both buyers and sellers of homes in Seattle and on The Eastside. email: cell: 206-910-1000

14 thoughts on “Sunday Night Stats

  1. More on Issaquah

    316 houses for sale with a median price of $670,000

    90 in escrow with a median price of $654,500

    82 closed since 1/1/08 with a median price of $576,250

  2. Ardell, do you have a theory of the huge difference between what is currently in escrow compared to what has closed so far? Do you think most can be explained by the difference of asking vs. final sale price? The diff is 17%, it sounds like a bit to much bargaining. Perhpas it’s just scewing from a small data sample.

  3. Two things:

    The SOLD YTD properties sold at a median of just under 96.5% of asking price. So that would bring the 89 in escrow (1 fell out since last night) at $624,000 as to sold price.

    Second, and more importantly, 42 of the 89 properties in escrow are built on or after 2005 and only 26 of the 82 properties sold since January 1 were built in the same time period.

    Those with longer closings in escrow are more likely to be new construction and sell at closer to asking price (on paper anyway given buyer incentives built into the price) and at higher prices than older properties that close more quickly.

  4. I’d guess the small sample size also would play a roll. I looked at the medians for King County on about the 4th of the month, and it was up about $130,000 over February. A few days later it was back down into normal range.

    Over in Silverdale I listed a house where there were so few sales in each area that the month to month medians were all over the place, and completely worthless.

  5. Kary,

    I looked at the detail and with 90 give or take in the data, and given the types of property in the mix, I don’t think the “small” sampling is at issue.

    More often, no matter which area you are looking at, “in escrow” has a higher percentage of new than any closed sales this early in the year. As we get further into the year and YTD involves a longer period of time, New Construction closed YTD and New Construction in escrow may balance out.

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