The phones are ringing. Showings have increased on listings. Flyers are disappearing more quickly from brochure boxes. All signs pointing to increased buyer interest in the Maple Valley area.
A year to date market snapshot reveals we have had 74 single family homes close (per NWMLS stats) since the first of the year. Certainly not a boost of confidence for a market looking to recover. However given that Escrow closing time frames are typically 30-45 days, and many of our existing pending sales are Short Sales, where closing may take as long as 90-120 days, it’s too soon to tell whether 2009 is shaping up to better, worse or equal to the market of 2008. (Which I think everyone I know in real estate would rather forget!)
So let’s take a look at the first 3 months of 2009 compared to that of 2008 for single family homes in the Maple Valley market:
|
2009 |
2008 |
% change |
|
# Closed Sales |
74 |
104 |
28% |
Average Sales Price |
$333,824 |
$407,807 |
18.2% |
It will be interesting to see, give the increase in March pending sales as well as the increase in buyer interest, where we’ll be in approximately 60-90 days.
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Colleen Fischesser is the Broker/Owner of RE/MAX Select in Maple Valley, WA. She has been successfully selling and marketing properties all over South King & North Pierce counties since 1990 but specializes in the Maple Valley Washington area. She may be contacted directly at: 425-432-5400
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