2011 Market Report for Renton, Washington
2011 Market Report for Renton, Washington
Renton real estate was on a lot of peoples minds and in their conversations in 2011. Now that the year is over we can report activity, averages and trends for you right here.
2011 Market Report for Renton, Washington
Renton real estate was on a lot of peoples minds and in their conversations in 2011. Now that the year is over we can report activity, averages and trends for you right here.
Real estate activity was brisk and vigorous if somewhat diminishing during the tail end of 2011. Our Phil Leng Team was very active for our select group of clients. Managed to keep the entire Team busy throughout. Even with a record number of sales last year we still managed to keep the average market time at 49 days. Yes, we are quite pleased with that feather in our collective hats.
However the overall statistics for Renton are sobering. Look at this graph. The Red bar is the number of houses for sale in any given month. The Green bar is the number of houses sold in any given month. Which of these two categories would you want to be in?
Use The Phil Leng Team to sell your property this year, and we will help you get into the sold category quicker AND/OR help you FIND your new home on your timeline.
The trend of median sold prices in Renton is also headed down. The median price has gone down 19%.
Part of the good news in Renton is that the number of new properties going for sale has been dropping over the last year - the trend of new listings every month is down 26%.
The average Days on Market in Renton was trending downward most of the year.Less time on the market would indicate pricing is more reflective of the actual market demand.
And more good news! The Months Supply of Inventory in Renton Washington has gone down. The graph shows 56% over the year, not seasonally-adjusted. This appears to be a significant trend worth tracking and applying.
Conclusion: If you are serious about your real estate transaction in Renton, hire the Phil Leng Team. We have the experiences and the track record to help you reach your real estate goals this year.
All data for thisis from the NWMLS and is their property. Accuracy has not been independently verified.
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