Covington WA Real Estate | Homes Sold December 2011

During the month of December there were 21 homes that sold in Covington, Washington. These homes all have the city listed as Covington. There are more homes sold in the area that are located outside the Covington City limits and will be reported in the Kent October stats.

These Covington WA homes actually had a transfer of home ownership. Contracts complete, cash or lender funds available, buyer and seller have signed all of their documents that escrow prepared for the closing. Once all the I’s were dotted and the T’s crossed there where deeds recorded at the King County courthouse that transferred the property into the new home owner’s name!

If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site. There you can find definitions and explanations of the home buying process for Covington Washington.

Let’s look at those 21 Covington homes compared to December 2011. There are some good sigs of some type of normal market in the future. Sold properties are up, homes new to market is up, expired properties are down and supply and demand is looking promising. If you were to look just at December 2011 the Covington real estate market would be a seller's market with only 3 months of inventory.

Dec-10 vs. Dec-11: The median sold price is down 8%

Dec-10 vs. Dec-11: The median price of for sale properties is down 11% and the median price of sold properties is down 8%

Dec-10 vs. Dec-11: The number of sold properties is up 40%

Dec-10 vs. Dec-11: The number of under contract properties is up 164%

Dec-10 vs. Dec-11: The number of new properties is up 40%

Dec-10 vs. Dec-11: The number of for sale properties is down 19%

Dec-10 vs. Dec-11: The number of expired properties is down 33%

Dec-10 vs. Dec-11: The number of for sale properties is down 19% and the number of sold properties is up 40%

Dec-10 vs. Dec-11: The average days on market is down 27%

Dec-10 vs. Dec-11: The average months supply of inventory is down -73.9%

Not a bad time to purchase a home in Covington, Washington. Prices are down, interest rates are at an all time low you might want to look at what it means to you.

What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds. I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful.

If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis.

If you would like to purchase a home in the King County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

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“Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed”