These are current statistics gathered from February 2016 data.
Prices: Continuing upward. Properties in all areas are receiving offers over asking price.
Inventory: Some areas are seeing a slight increase but not enough to make a difference. 5 – 6 months is a balanced market. 3 months of inventory is the highest we are seeing.
Appreciation: We continues to see very steady appreciation.
Days on Market: When the days are 7 or less, there have been multiple offers in most cases. 7 – 15 days usually mean buyers have waited to avoid a multiple offer situation. Over 30 days means a price reduction is definitely in order.
I am working with clients and properties all over the region. And I keep track of what is going on everywhere. Please feel free to call, text or email me for specific details of the area you are interested in.
What’s the market like in North Seattle? A very strong a Seller’s Market: Appreciation: Up 27% from a year ago. The median price range is $713,501. The highest ever. Number of sales: 138 – Up from January. Days on market: 7 days on the market. Inventory: 1.6 months of inventory. Slightly more than last month and last year.
What about townhouses in North Seattle? A Seller’s Market Appreciation: Up 42%. The median price for January was $639,950 Number of Sales: 35 compared to 19 in January. Once the holidays were over, buyers were out. Days on market: Townhouses were also selling in 7 days. Inventory: Critically low at 1 month. January was .9 of a month and .7 a year ago.
What’s the market like in Shoreline? Seller’s market: Appreciation: Up 25% from a year ago. Median Price is $495,000. Number of sales: 27 compared 29 in January. Days on market: 6 days. Inventory: 1.7 of a month of inventory compared to .9 in January.
What’s the market like in Kirkland? Seller’s market: Appreciation: Up 23% from last year. The median price range is $702,975 Number of sales: 52 compared to 72 in January. Days on market: 8 compared to 11 days in January. Inventory: 3.26 months of supply compared 1.2 in January and 2.4 last year.
What’s the market like in Bellevue? Seller’s market: Appreciation: Up 17% from a year ago. The median price range is $900,000. Number of sales: 71 compared to 57 in January. Days on market: 10 compared to 11 days last month. Inventory: 3 months of supply (this is the highest supply in the region!) compared to 1.6 of a month of supply in January and 1.8 last year.
What’s the market like in King County? Appreciation: Up 17% from a year ago. The median price is $514,875. Number of sales: 1330 compared to 1314 in January. Kind of low. Days on market: Stead at 41 days. Inventory: at 1.4 of a month compared to 1.5 in January and 2 months of supply one year ago.