2011 Market Report for Mill Creek, Washington

2011 Market Report for Mill Creek, Washington

2011 Market Report for Mill Creek, Washington

Mill Creek real estate was on a lot of peoples' minds this last year. Now that the year is over we can report activity, averages and trends.

I would characterize Mill Creek real estate activity as brisk and picking up based on the experience of the Phil Leng Team. We sold sixty eight homes this past year, with an average market time of 49 days!

However the overall statistics for Mill Creek are sobering. Number of homes for sale is down 39%. Number of homes sold is down 18%. And, the red bar is how many homes for sale each month. The green bar is how many homes sold each month. Which of these two categories would you want to be in? The red category, or the green category? If you use The Phil Leng Team to sell your property this year, we will help you get into the sold category!


The trend of median sold prices in Mill Creek is obscure but potentially encouraging from this next graph. The median price appears to have gone up 3% through 2011. That would certainly be good news!

Perhaps the good news in Mill Creek is that the number of new properties going for sale every month has been dropping over the last year. It looks like the trend of new listings going for sale every month is down 50%. If you like your house, and do not need to sell it in the next 5-10 years, why put it up for sale? It is just an aggravation for you!

The average Days on Market in Mill Creek appears to have been going down slightly, but this next graph would not convince me there is a trend. Perhaps days on market really have gone down 7% over the year.

If you are a serious seller and need to sell, the next graph is good news. The Months supply of inventory in Mill Creek, Washington looks like it has gone down, if you look at the trend line. The graph shows 47% over the year. Is there a trend building the last half of the year toward BIGGER supply of inventory? Hard to tell, because the graph appears to show a dramatic drop over the first part of the year, then a slow swelling for the last half of the year.

My pitch? If you are a serious seller and need to sell this next year in Mill Creek hire the Phil Leng Team. We have the experience and the track record to help you reach your real estate goals this year.

Disclaimer in regular size print: All data for this 2011 Market Report for Mill Creek, Washington is from the NWMLS and is their property. Accuracy has not been independently verified. Statistics are a bit like humans. If you torture them long enough you can make them say anything you want them to say!

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