Every week I pull the sales trends of the cities in my community- Fife, Edgewood, Milton, and Federal Way. And as 2009 draws to a close and we head into 2010, I thought I would share some staggering statistics.
At any given week in Fife, WA there are, on average, 42 current, active listings on the Northwest MLS. They range in price from $167,950 to $579,950.
Of the 42, seven are owned by and offered for sale by the builder, 10 are owned by and offered for sale by a private party homeowner, and the remaining 25 are either bank owned or require third party approval (and are short sales).
That is a whopping 60% of homes on the market that are foreclosures and short sales!!
The subdivisions that are hit the hardest are Radiance (all divisions including Sunset) and Saddle Creek.
And to make matters worse for private party home sellers in Fife is the fact that 99% of the foreclosures and short sales are listed below $250,000. And so are 100% of the builder offered homes. Which means if you are a selling a home in Fife, WA and you want to be competitive and get your home sold, your home has to be listed under $250,000. There are 13 homes for sale at $250,000 plus and 10 of them are private party sellers. Ouch!
If you have any questions or comments about this market in Fife, or any other market, please do not hesitate to contact me. Debi Braulik with Keller Williams Realty - cell phone 206.949.4785 or via email deborah@kingpiercehomes.com
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