A special Shout Out to my Late Night Fans. I was over on my blog testing out some theories in specific areas. Comparing YTD 08 with same period 07 in King County, Kirkland and Bellevue. To my surprise, given it’s almost 1:00 a.m., I was seeing people reading them as I was posting them.
I almost didn’t post my Sunday Night Stats, given tomorrow is a holiday and I post them Sunday nights so that people have something to play with at work on Monday morning. But once you start a regular “show”, I guess you can’t miss a night. So I was pleased to see someone is watching and waiting and reading. Quite a few someones in fact. It gave me the energy to press forward, so thanks!
Before I continue with the normal weekly stats, I think I’ll go back over to my blog and do Redmond. The more time I spend in Redmond, the better I like it. I just sold a Rivertrail townhome, and have another coming on market next week. Have spent quite a bit of time in Abbey Road and English Hill recently as well. Redmond has a lot to offer and may be becoming the stronger choice than Bellevue or Kirkland. I’m going to be tracking that. As I suspected, Redmond’s doing pretty darned good relative to Kirkland and Bellevue at 30% down as to volume vs. 60% down as to volume. And the asking prices of property on market is also more in line with reality.
The market is not going up this year people! Stop adding 10% to last year’s comps to get your asking price. Unless you like sitting on market for 3 times the number of days, only to have to reduce your price and sell for less as “stale on market”. Condition and price are key! Inventory is up and volume is down and you have a lot of competion with many months of inventory in supply.
OK, let’s get to tonights weekly roundup:
King County Condos
Active Listings: 3,953 UP 36 – median price $324,950 – MPPSF $320 – DOM 58
In Escrow: 972 – UP 42 – median price $299,950 – MPPSF $302 – DOM 50
Sold YTD : 2014 – UP 128- median list price $289,950 – median sold price $285,000 – median PPSF $290 – DOM 47
(The numbers on solds on my blog tonight are different because I closed it as of 5/15/07 and 08 to do an accurate % regarding change in volume, giving enough time for all closings to be posted. Here I do the 7 day change from last Sunday.)
King County Residential
In Escrow: 2,933 – UP 229 – median asking price $449,000 – DOM 43 – MPPSF $212
(median asking price way up there on “in escrow” this week -MPPSF up too by $5)
SOLD YTD: 6,077- UP 341 – median sold price $439,990 – DOM 50 – MPPSF $221
Sold prices the same PSF. Houses are selling for about $10,000 under list price.
Actively for sale 11,579 – UP 126 – MPPSF <$800,000 is $220 – MPPSF >$800,000 is $338
No change to speak of in price per square foot. Inventory increasing by less than half as much as last week. Maybe it’s the holiday. Speaking of which…have a good one!
Stats not compiled or published by NWMLS. (Required disclosure)