Sunday Night Stats

So far it looks like sellers have a 50% chance of selling vs. last year.  I’ll keep tabs on that as we go.  You were twice as likely to sell your house last year as this year, if you put it on market.  For those of you who think it’s a new year and if it didn’t sell last year it’s time to raise the price…I’d rethink that.  Hopefully low interest rates will improve the stats moving forward.  But I wouldn’t count on the improvement being more than a 66.6% chance of selling.  We’re not talking about selling at the price you want.  We’re talking about selling at all.  Not a good time to be stubborn or overly optimistic.  You have until 4/1/08 to get real with your pricing, or possibly be back on market in 2009.  Stop pricing off what other people are asking.  Stick close to the comps this year.  No more than 5% over the comps is a good rule of thumb.  And don’t skimp on condition.  Condition will be the MOST important factor in 2008, second to not pricing more than 5% over the comps.

King County – Residential

For sale – 8,508 – UP 132

In Escrow – 1,906 – UP 97 – 6.5% of those are contingent contracts

Closed month to date – 439 – UP 203


King County – Condo Market

For sale – 2,929 – UP 59

In escrow – 798 – UP 18 – 2.6% of those are contingent contracts

Closed month to date –  144 – UP 75

UP means over last Sunday’s data.  Sales of single family homes kept pretty good pace against homes coming on market this week.  But still running at about half the pace of this time last year.  Let’s assume 1/3 of the buyer pool is gone and that this year’s sales will be 2/3rds of last year in total number of properties sold.  That’s my prediction based on what we’re seeing so far.

“Statistics not compiled or published by NWMLS.

Sunday Night Stats – King County

An update to the Property Stats for King County from last week:

Residential – Single Family

For sale – 8376 – UP 279

In escrow – 1809 – UP 27

Closed in Janaury so far – 236 -NEW CATEGORY


For Sale – 2,870 – UP 125

In escrow – 780 – UP 47

Closed in Jan so far – 69 – NEW CATEGORY


Apologies Sandy, no Bellevue Stats today.  I’ve decided to do them in map grid first, and visit some of the new on markets for commentary on how the new is comparing to old listings, and to track if the new listings are selling at a higher rate than current inventory.

Broker’s Opens are on Thursday.  I’ll report afterward.

“Statistics not compiled or published by NWMLS.

Sunday Night Stats

I know how much I enjoy being able to check RCG for mortgage rates every Friday, thanks to Rhonda.  I’m going to try to do the same for King County Stats on Sunday nights.  Each week I will also highlight a different City or Seattle Zip Code over on my blog.  Tonight I did Kirkland Stats.

I don’t have any commentary for King County Stats tonight.  But there’s plenty of commentary on the Kirkland Stats.  There’s less than a three month supply of inventory for property priced at or below the median price sold in 2007.  There’s a very strong buyer’s market in the high end of $1M or more for condos and $1.5M or more for single family homes.

I’ll try to post the stats here every Friday night for King County, but until we get a couple of months of sales, or the full first quarter of 2008, commentary would simply be conjecture.  I don’t expect the number of homes sold in 2008 to be dramatically different in the first half of 2008, as they were in the last half of 2007. 

I expect that brown slice of December 2007 closings to change a bit each week as agents post late.  There were even a few late postings for November and October since last week.  I’ll try to update and keep the data as accurate as possible.  As always, and by mls rule, I must disclose that I, ARDELL compiled these stats using MLS as a source only.  The data is not compiled by NWMLS.



“Statistics not compiled or published by NWMLS.