I feel these graphs that are made up of information gathered from the Northwest MLS show exactly what is happening in your local real estate market. As you can see as inventory comes down, sales go up (Price helps too). We are up almost 200 units in August compared to the middle of summer last year.
The bottom line is the buyers are back and homes are selling. Yes it is true, home will not sell as quickly or for as much money as they did in 2005-2006, but consider where the economy was then and the types of lmortgages that were being offered. Still in this down time, the Puget Sound is rebounding quicker than other regions of the country.
This may not be the best news if you are a seller based on the average sale price graph, but if you have to sell or are wanting to buy, be assured there is activity in our local market and if you pay attention to the stastisitcs of the current market you will be successful when selling or buying your home.
FOR SALE VS. SOLD
AVERAGE PRICE FOR SALE AND SOLD
Windermere/ Professional Partners