Welcome to the first 2008 snapshot of what is going on in our market place today, January 18th.
The supply and demand in real estate is best gauged by looking at the number of pending sales. Here is a snapshot of what our market looks like today in Arlington for residential homes.
Price | Total # Homes | # Pending Sales | Percentage (Demand) | Average # Days on Market |
$100-150K | 2 | 0 | 0% | 160 |
$150-200K | 8 | 1 | 13% | 128 |
$200-250K | 30 | 4 | 13% | 78 |
$250-300K | 70 | 6 | 9% | 102 |
$300-350K | 56 | 4 | 7% | 72 |
$350-400K | 37 | 3 | 8% | 76 |
$400-450K | 34 | 3 | 9% | 108 |
$450-500K | 30 | 0 | 0% | 208 |
$500-550K | 20 | 0 | 0% | 123 |
$550-600K | 29 | 0 | 0% | 126 |
$600-700K | 30 | 2 | 7% | 107 |
$700-800K | 6 | 0 | 0% | 75 |
$800-900K | 5 | 0 | 0% | 87 |
$900-1 million | 6 | 0 | 0% | 206 |
over 1 million | 6 | 0 | 0% | 112 |
TOTAL | 369 | 23 | 6% | 108 |
What does this mean?
Sellers, if you are under $250,000, priced right and your property shows well, then get ready to move, chances are good you'll see an offer.
Buyers, there is plenty of inventory to choose from, but don't wait too long, homes are moving fairly well. Certain price ranges are slower than others, but between $300,000-$350,000 homes are on the market for only 72 days, so don't wait too long!
Looking over the data from last month compared to today, the sales have held steady at 6%. The average days on market for listings has gone down slightly from 113 in December to 108 today. I think we will see a little burst this spring, so be prepared.
If you are thinking about selling your home in or moving to Stanwood, Arlington, Marysville or Camano Island, give me a call.
Jen Hudson, GRI (360) 652-1200 or jen@jenhudsonhomes.com
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