Posted by David Edwards under For Buyers, For Sellers, For Realty Professionals, Regional - West, Statistics, Marketing Reports, Renton, Market
These numbers are based on a three month historical analysis that compares this week with last week.
MLS Area 500 (Newcastle, Bellevue South of I-90 & Issaquah South of I-90)
Single Family Homes
Average Days on Market: 107 Days (Up from 105 last period)
Inventory of Active Listings: 542 (Up from 541 last period)
Inventory of Sold & Pending Listings: 207 (Down from 211 last period)
69 listings are absorbed by demand each month on average. (Down from 70 last period)
13% of active listings are selling each month on average. (No change from 13% last period)
7.9 Months Worth of Supply (Up from 7.7 last period)
Average List Price: $913,062 (Up from $905,942 last period)
Average Sale Price: $640,976 (Down from $642,184 last period)
Median Sale Price: $570,000 (No change from $570,000 last period) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 500 for Single Family Homes: This area favors buyers over sellers based on the fact that there is a 7.9 month supply of homes. This means that if no additional homes were listed, it would take 7.9 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.
Condominiums
Average Days on Market: 90 Days (Up from 88 last period)
Inventory of Active Listings: 138 (Down from 141 Active Listings last period)
Inventory of Sold & Pending Listings: 55 (Down from 58 last period)
18 listings are absorbed by demand each month on average. (Down from 19 last period)
13% of active listings are selling each month on average. (No change from 13% last period)
7.6 Months Worth of Supply (Up from 7.4 last period)
Average List Price: $319,464 (Up from $319,136 last period)
Average Sale Price: $282,986 (Up from $280,187 last period)
Median Sale Price: $257,750 (Up from $256,500 last period) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 500 for Condominiums: This area favors buyers over sellers based on the fact that there is a 7.6 month supply of homes. This means that if no additional homes were listed, it would take 7.6 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.
http://www.nwmls.com/discover/library/maps/areamaps/King/500-East%20Side-South_all.pdf
MLS Area 350 (Northeast Renton / Renton Highlands, East Highlands, Briarwood)
Single Family Homes
Average Days on Market: 109 Days (No change from 109 last period)
Inventory of Active Listings: 405 (Down from 409 last period)
Inventory of Sold & Pending Listings: 189 (Down from 199 last period)
63 listings are absorbed by demand each month on average. (Down from 66 last period)
16% of active listings are selling each month on average. (No change from 16% last period)
6.4 Months Worth of Supply (Up from 6.2 months last period)
Average List Price: $528,836 (Up from $528,465 last period)
Average Sale Price: $430,091 (Down from $432,381 last period)
Median Sale Price: $395,000 (Down from $396,725 last period) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 350 for Single Family Homes: This area is balanced between buyers and sellers based on the fact that there is a 6.4 month supply of homes. This means that if no additional homes were listed, it would take 6.4 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.
Condominiums
Average Days on Market: 108 Days (Up from 105 last period)
Inventory of Active Listings: 77 Active Listings (Down from 80 last period)
Inventory of Sold & Pending Listings: 40 (Down from 41 last period)
13 listings are absorbed by demand each month on average. (Down from 14 last period)
17% of active listings are selling each month on average. (Down from 18% last period)
5.9 Months Worth of Supply (Up from 5.7 months last period)
Average List Price: $246,302 (Up from $245,931 last period)
Average Sale Price: $238,743 (Down from $242,814 last period)
Median Sale Price: $219,450 (Down from $222,750 last period) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 350 for Condominiums: This area is balanced between buyers and sellers based on the fact that there is a 5.9 month supply of homes. This means that if no additional homes were listed, it would take 5.9 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.
http://www.nwmls.com/discover/library/maps/areamaps/King/350-Renton%20Highlands.pdf
MLS Area 340 (Southeast Renton / Cascade, Tiffany Park, Talbot Hill, Benson Hill, Fairwood)
Single Family Homes
Average Days on Market: 119 Days (Up from 116 last period)
Inventory of Active Listings: 355 (Down from 357 last period)
Inventory of Sold & Pending Listings: 168 (Down from 178 last period)
56 listings are absorbed by demand each month on average. (Down from 59 last period)
16% of active listings are selling each month on average. (Down from 17% last period)
6.3 Months Worth of Supply (Up from 6.0 months worth of supply last period)
Average List Price: $421,138 (Up from $420,630 last period)
Average Sale Price: $362,754 (Up from $361,447 last period)
Median Sale Price: $331,500 (Down from $342,000 last period) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 340 for Single Family Homes: This area is balanced between buyers and sellers based on the fact that there is a 6.0 month supply of homes. This means that if no additional homes were listed, it would take 6.0 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.
Condominiums
Average Days on Market: 95 Days (Up from 94 last period)
Inventory of Active Listings: 105 (Up from 104 active listings last period)
Inventory of Sold & Pending Listings: 57 (Down from 59 last period)
19 listings are absorbed by demand each month on average. (Down from 20 last period)
18% of active listings are selling each month on average. (Down from 19% last period)
5.5 Months Worth of Supply (Up from 5.4 last period)
Average List Price: $218,356 (Down from $220,293 last period)
Average Sale Price: $214,779 (Down from $215,117 last period)
Median Sale Price: $213,450 (Up from $208,000 last period) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 340 for Condominiums: This area is balanced between buyers and sellers based on the fact that there is a 5.2 month supply of condos. This means that if no additional condos were listed, it would take 5.2 months to absorb the current inventory. A market is considered balanced when the supply of condos is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.
http://www.nwmls.com/discover/library/maps/areamaps/King/340-Renton-Benson%20Hill.pdf
If you are interested in statistical information for an MLS area not covered here, please respond to this post to let me know what neighborhood you live in and I will follow up with the statistics specific to your area of interest. You are also welcome to visit my website at www.davidjedwards.com where you can access my Market Snapshot research tool found on the left side of the homepage.
This information is deemed reliable but it is not guaranteed to be 100% accurate. I generated these statistics using the Northwest Multiple Listing Service. These statistics were not compiled or published by the Northwest Multiple Listing Service. The analysis of each MLS Area is based on the market statistics but is the personal opinion of the author.
David Edwards
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/renton-info-blog.asp
David J Edwards is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers.
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