Comments on: Sunday Night Stats http://raincityguide.com/2008/03/16/sunday-night-stats-4/ Seattle's Leading Resource for Real Estate Information Sat, 21 Nov 2009 06:01:18 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: ARDELL http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286807 ARDELL Mon, 17 Mar 2008 20:06:26 +0000 http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286807 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. 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.

]]> By: Kary L. Krismer http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286804 Kary L. Krismer Mon, 17 Mar 2008 20:00:29 +0000 http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286804 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. 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.

]]> By: tj http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286756 tj Mon, 17 Mar 2008 18:40:31 +0000 http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286756 Thanks, that makes sense. Thanks, that makes sense.

]]> By: ARDELL http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286739 ARDELL Mon, 17 Mar 2008 18:19:41 +0000 http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286739 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. 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.

]]> By: tj http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286726 tj Mon, 17 Mar 2008 17:43:57 +0000 http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286726 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. 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.

]]> By: ARDELL http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286418 ARDELL Mon, 17 Mar 2008 05:53:28 +0000 http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286418 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 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

]]> By: tj http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286410 tj Mon, 17 Mar 2008 05:21:59 +0000 http://raincityguide.com/2008/03/16/sunday-night-stats-4/#comment-286410 +$650k median in Issaquah, holy cow. As always, thanks for the stats Ardell! +$650k median in Issaquah, holy cow.
As always, thanks for the stats Ardell!

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