Last week my assistant, Nina, and I attended a class put on by Northwest Energy Star that frankly I was initially concerned would only cover the basics of knowing the benefits of energy efficient appliances.  Thankfully, my concerns were immediately put to rest as the class began and we heard what we’d really be covering – what it means to have a truly energy efficient home and the construction methods that get you there.   WHEW!!!!

A short tutorial about energy prices and how they’re impacting the sales and construction of homes was part of the beginning of the course and underscored information I’ve been reading about for years.  I was pleased to see for many people that they “got it

On the run.  No time for a blog post.  I need an eFax like yesterday.  Can anyone give me experience, cost comparisons, any info they have on this service.

Thanks!!!

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King County Condos

Active Listings: 3,917 UP 37 – median price $324,900 – MPPSF $321 – DOM 55

In Escrow: 930 – DOWN 10 – median price $299,900 – MPPSF $304 – DOM 48

Sold YTD : 1,886 – UP 110 – median list price $289,625 – median sold price $282,642 – median PPSF $288 – DOM 47

Sharing this breakdown info I needed to do for my own business.  Condos in parts of Kirkland, Bellevue and Redmond

Condos Sold YTD:

98033: median sales price $479,500 – DOM 59 – MPPSF $334

98034: median sales price $250,000 – DOM 49 – MPPSF $263

98007: median sales price $269,500 – DOM 37 – MPPSF $286

98052: median sales price $320,500 – DOM 56 – MPPSF $285

Issaquah: median sales price $294,950 – DOM 30 – MPPSF $288

King County Residential

In Escrow: 2,704 DOWN 109 – median asking price $431,850 – DOM 41 – MPPSF $207

SOLD YTD: 5,736 UP 322 – median sold price $440,000 – DOM 51 – MPPSF $221

Both of those median price per square foot numbers are down from last week.

Actively for sale 11,453 UP 222 – MPPSF <$800,000 is $220 – MPPSF >$800,000 is $337

So inventory is up 222 and in escrow and closed combined are up 213, so still not selling faster than they are coming on market.  I’m thinking at some point that balance has to tip in the other direction.  Running pretty close this week.

Stats not compiled or published by NWMLS. (Required disclosure) 

In January of 2007, 455 people were able to sell their homes in 30 days or less at 99.84% of asking price.

In January of 2008 only 261 people were able to sell their homes in 30 days or less and they sold at 98.93% of asking price.

42% fewer people sold their homes within 30 days of listing the home for sale in January 2008 vs. January 2007

In January of 2007, 13.25% of all homes sold had been on market for over 120 days and sold for 97.52% of asking price at time of sale.

In January of 2008, 21.67% of all homes sold had been on market for over 120 days and sold for 95.60% of asking price.

And yet…they sold for a little more.  Volume down by 30%, days on market longer, but median sold prices up from $430,000 to $431,375.  Median asking prices up from $430,014 to $439,000.

That was January…let’s jump to April (I don’t know the answers before I type this BTW.  I figure I can’t introduce my agent bias if I post in real time.)

In April of 2007, 1,184 people were able to sell their homes in 30 days or less for 100.62% of the asking price.

In April of 2008, only 561 people were able to sell their homes in 30 days or less and they sold at 99.25% of asking price.

53% fewer people sold their homes within 30 days of listing the home for sale in April 2008 vs. April 2007

In April of 2007, 13% of all homes sold had been on market for over 120 days and sold for 97.8% of asking price at time of sale.

In April of 2008, 20% of all homes sold had been on market for over 120 days and sold for 95.97% of asking price.

But in April, no more volume down; prices up.

Median sold price in April of 2007 was $474,950 ($50 less than median asking price)

Median sold price in April of 2008 was $451,250 and median asking price at time of sale was $459,925

By Request: Stats for “Curious” in Redmond 98052 pretty strong relative to King County as a whole.  Also for Curious – Woodinville 98072; not a pretty picture.  For Aiboh here’s 98074 Sammamish – not bad.  A lot better than Woodinville.  I have to put the special request stats on my blog for space purposes.  But keep the requests coming and if I can’t do them on Sunday night, I’ll squeeze them in during the week somewhere. 

Regular weekly stats:

King County Residential

Actively For Sale: 11,231 – UP 268

In Escrow: 2,813 – UP 63 – MPPSF $210 (dropped $2.00 again – and that’s asking price

Closed YTD 5,414 – UP 305 – MPPSF $220 YTD (April MPPSF $224)

Not sure why closed sales keep running high while the properties in escrow are running low as to median price per square foot.  You would expect the closings to be affected eventually as these close, but so far not.

MAYBE a lot of the ones staying in escrow are short sales, and they are not closing at all.  That would be the only explanation I can come up with for “in escrow” MPPSF running lower and lower and closings not being lower. 

King County Condos

Actively For Sale: 3,890 – UP 106 MPPSF $320 Down $3.00

In Escrow: 940 -UP 40 – MPPSF $303.50, Down $1.50 but close to where they were the week before last.

Closed YTD: 1,776 – UP 101 – MPPSF $288 – asking prices still running high relative to closed prices.  Especially considering April closed sales are running at $270 MPPSF compared to April 2007 at $300 MPPSF.

Volume down 52% April YOY in condos and prices are starting to see more signs of weakening.   But again, given the sold properties in both residential and condo were on market for a long time, we could be seeing some old inventory selling off at drastically reduced prices.  Some old stale inventory is runing scared from “new on market” and dropping prices accordingly.  

Stats not compiled or published by NWMLS. (Required disclosure)

My daughter Jacquie just called, the middle child, she and Peter are going to have a baby!  This will be my second grandchild.  See Jacquie below at the 7 Eleven at Denny and 5th.