Below are the 2011 year end statistics for homes in Sudden Valley a private community along the shores of Lake Whatcom just SE of Bellingham, WA. The first section covers all Sudden Valley homes that were actively listed for sale. The second section covers all Sudden Valley homes that actually sold.
Area 850 – Sudden Valley Active Listings
Month of Dec New Listings – 12 units in ’11 vs 12 units in ’10 – No change
YTD New Listings – 223 units in ’11 vs 266 units in ’10 – Down 16.2%
Month of Dec Total Active Listings – 62 units in ’11 vs 78 units in ’10 – Down 20.5%
Month of Dec Ave List Price - $263,912 in ’11 vs $277,042 in ’10 – Down 4.7%
The YTD Average List Price - $293,210 in ’11 vs $300,465 in ’10 – Down 2.4%
Month of Dec Median List Price - $244,950 in ’11 vs $239,950 in ’10 – Up 2.1%
The YTD Median List Price - $259,900 in ’11 vs $269,900 in ’10 – Down 3.7%
Average Days on Market - 137 days in ’09 to 116 days in ’10. – Up 18.1%
As you can see, the word on the street is only partially accurate. It's true that asking prices are down but 2.4% for the year isn't too bad compared to many areas. However, the street talk about the market being flooded with inventory is merely a perception. In actuality inventories are significantly down, 16.2% fewer new listings for the year in 2011 and 20.5% fewer homes on the market in Dec of 2011 compared to Dec 2010.
Area 850 – Sudden Valley Sold Homes
Month of Dec # of homes sold – 4 units in ’11 vs 9 units in ’10 – Down 55.6%
YTD Number of Homes Sold – 105 units in ’11 vs 125 units in ’10 – Down 16.0%
Month of Dec Ave Sold Price - $204,000 in ’11 vs $216,944 in ’10– Down 6.0%
YTD Average Sold Price - $217,210 in ’11 vs $248,887 in ’10 – Down 12.7%
Month of Dec Med. Sold Price - $190,000 in ’11 vs $223,000 in ’10 - Down 15.0%
YTD Med. Sold Price - $190,000 in ’11 vs $239,900 in ’10 – Down 20.8%
Market time with from 104 days in ’11 vs 89 days in ’10 – Up 16.6%
With regards to homes sold in Sudden Valley the stats speak for themselves - the number of units selling and prices are down and market time is up. It's a good time to buy in Sudden Valley.
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