2011 Market Report Condos for Renton, Washington
Renton 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 in this 2011 Market Report Condos for Renton, Washington.
Renton real estate activity was brisk and picking up through the last quarter of 2011. Based on the experience of the Phil Leng Team we're confident it's a continuing trend. We sold 68 homes in 2011, with an average market time of 49 days, giving us a unique viewpoint for our clients.
The overall statistics for Renton are encouraging. Look at the graph below. 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? (Yes, it's a loaded question!) The Red category, or the Green category? If you hire The Phil Leng Team we will help you get into the sold category! So let's go Green!
The good news in Renton is that the number of new properties going for sale every month has been dropping over the last year with most of the decrease coming after August. Inventory trends in this 2011 Market Report Condos for Renton, Washington are down 52%. 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. If you must sell, call The Phil Leng Team.
The Average Days on Market in Renton has risen slightly after dropping off mid 2011. The graph shows a 21% increase in days on the market. Perhaps folks who have tried to sell for prices the market would not bear have decided to stop trying, and the people who are selling now are serious sellers.
If you are a serious seller and need to sell, the next graph is good news. The Months Supply of Inventory in Renton Washington has gone down 68% over the year. However it is not seasonally adjusted. This is a significant trend well worth considering as those who do not really need to sell simply defer their plans until a later time.
Conclusion: If you are a serious seller and need to sell this next year in Renton, hire the Phil Leng Team. We have the experience and the track record to help you reach your real estate goals.
All data for this 2011 Market Report Condos for Renton, Washington is from the NWMLS and is their property. Accuracy has not been independently verified.