Duvall and Carnation Washington Commercial and Residential Market Update (05/02/09)

Lets start with residential...

Here are current stats for Duvall and Carnation. I added rows for "pending" since I think it tells an interesting story... what homes are actually selling and getting offers. I won't draw the conclusion for you... let me know what conclusion you draw. I also added a column to indicate trend since the last report.

I should provide the same caution I provided last time about the Carnation numbers... we only had 3 solds for this period (1 more than for the last report), so I ‘m not sure a lot can or should be deduced from the Carnation info.

The good news this week is 6 home sales closed in Duvall and Carnation this past week! (5 in Duvall, 1 in Carnation) A couple more went "pending", so an offer to purchase has been made and accepted.

At first I wasn't that impressed, because about 10 properties showed as ‘new' on the market... but the reality is that many of these were just expired listings that showed back up on the market the next day because the same (or a different) agent relisted them with a new contract. These new properties were pretty evenly spread between Duvall and Carnation. I did spot several short-sale and bank-owned homes in the bunch, which is never a really good thing to see in any market. You don't see a huge number in this area, so we'll just have to keep our eyes open in case we see a trend.

There was a mixed set of activity around condos in Duvall (one cancelled, 1 new) and land (one expired and one new)... must be a trend. :-)

There were also quite a few expired and cancelled lists. Good opportunity for go-get-em agents to pick up a few extra listing by making some calls.

On the commercial side, in Carnation a commercially zoned lot got relisted... it expired several weeks ago. The new agent is an experienced commercial agent. Hopefully, he will do a good job for the client. At least he is a commercial agent (see last weeks post on that subject)

Jason Hershey, Commercial Agent
Commercial Sales and Leasing
CENTURY 21 North Homes Realty, Inc.
13322 Hwy 99 South, Suite #201
Everett, WA 98204

Cell: 425-417-5389
Fax: 425-223-3148

www.nwcommercialre.com
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