Sudden Valley is a community outside Bellingham in Whatcom County, Washington.
These are live stats regarding Sudden Valley's real estate statistics for the past 3 years for residential, condominiums, and vacant land.
We use median numbers for data instead of average to dismiss anomalies if there is a really high priced/low priced property that would skew the numbers.
Here is the median sales price. Below each column, it tells you the percentage of change from the previous year.
This chart shows the number of new listings by property type to which you may compare those numbers for the previous years. Supply and demand play a huge part in listing prices!
This chart shows the current active listing numbers compared to each year.
This shows the number of pending sales to see the activity as compared to previous years.
It's important to look at the number of closed sales compared to the number of new listings - what trend do you see? Are we getting more inventory or less?
The average (we use average here) number of days on the market also helps us look at the overall market and how quickly new listings are selling. In a balanced market about 50% of listings will sell in the first 30 days - so about 60ish average days.
The months of supply is a great indicator for determining a balanced market from a buyer's market from a seller's market -
<4.5 months of supply means there's a shortage of listings and indicates and seller's market.
4.5-5.9 months of supply indicates a pretty balanced market
6+ months of supply means there's plenty of inventory and buyers can be pickier and therefore puts us in a buyer's market.
This next chart indicates the median percent of the sold price as compared to the last list price (in case a property had a price reduction). This helps buyers know how competitive their offer should be!
This chart shows the original list price and also helps buyers decide how much to offer.
This chart isn't really used except to see what home prices are doing. I find this really valuable when pricing listings. But be aware that if you have a large home, you will most likely get less than this per square foot. If you have a tiny house, you may get a little more than this per square foot.
Heather Stevenson BROKER