Shoreline’s closed home sales outpacing 2011

Shoreline closed sales year-over-year

Closed sales in the Shoreline area (zip code 98133) are up 388 closed sales in 2012 compared to the 274 in the preceding year, a 41% year-over-year gain.

This week in Shoreline

The median list price for Shoreline (zip code 98133 is $289,000.  Inventory has  been tightening lately and the Market Action Index has been trending up.  Though days-on-market is increasing, these are mildly positive indications for the market.

Supply and Demand

Home sales in the Shoreline area has been exceeding new inventory for several weeks.  However because of excess inventory, prices have not yet stopped falling.  Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there.  Watch prices as the market transitions from a Buyer’s market to a sellers market.

Price

Prices in Shoreline have been on a downward trend recently and this week, while  essentially flat, doesn’t break us out of that cycle.

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