Current Price Trends
The final statistics for 2007 have been released by the NWMLS. Prices continued to edge down for a third month. The median price for December was $266k, which was a 14% correction from the January 2007 figure of $308k. The 98375 area saw the most growth in recent years, a factor in this significant correction.
The average cumulative days on market - total time a home is for sale, from listing to closing - moved up a bit to 106 days, up from 102 days the previous month. Buyers continue to have the upper hand, even though the average sale price to original list price rose to 96%, up from 93% in November.
Market Activity
Listing inventory continued falling to reach the lowest level since February ’07. There were 368 homes on the market to begin 2008. Buyers will soon notice that their choices are rapidly diminishing. Sales broke loose a bit, rising to a level not seen since August. With just 39 homes sold though, sellers must remain committed to proper pricing.
* Homes sold - single-family homes, both resale and new construction, but not condos or vacant land.
** Median home price - the middle price in a given sequence of prices, taken as the average of the two middle prices when the sequence has an even number of homes.
*** SP/Orig LP% - Sale price divided by original list price.
Current Price Trends
The final statistics for 2007 have been released by the NWMLS. Prices rose slightly, but were still down from a year high in October. The median price for December was $304k, which was a slight increase from the January 2007 figure of $300k.
The average cumulative days on market - total time a home is for sale, from listing to closing - moved up a bit to 94 days, up from 85 days the previous month. Buyers continue to have the upper hand, even though the average sale price to original list price rose to 95%, up from 93% in November.
Market Activity
Listing inventory edged down again to reach the lowest level since April ’07. There were 273 homes on the market to begin 2008. Buyers will soon notice that their choices are rapidly diminishing. The holiday season took its toll on sales as they stayed flat for the fourth month in a row. With just 21 homes sold, sellers must remain committed to proper pricing.
* Homes sold - single-family homes, both resale and new construction, but not condos or vacant land.
** Median home price - the middle price in a given sequence of prices, taken as the average of the two middle prices when the sequence has an even number of homes.
*** SP/Orig LP% - Sale price divided by original list price.
Current Price Trends
The final statistics for 2007 have been released by the NWMLS. Prices rose slightly last month, ending a three month decline. The median price for December was $290k, which was an almost 10% increase from the January 2007 figure of $264k.
The average cumulative days on market - total time a home is for sale, from listing to closing - dove sharply to 96 days, down from 171 days the previous month. Buyers lost their strangle hold on sellers but still have an advantage, as the average sale price to original list price rose to 96%, up from 90% in November.
Market Activity
Listing inventory continued falling to reach the lowest level since December ’06. There were 146 homes on the market to begin 2008. Buyers will soon notice that their choices are rapidly diminishing. The holiday season took its toll on sales with that figure staying pretty even for the fourth month. With just 17 homes sold, sellers must remain committed to proper pricing.
* Homes sold - single-family homes, both resale and new construction, but not condos or vacant land.
** Median home price - the middle price in a given sequence of prices, taken as the average of the two middle prices when the sequence has an even number of homes.
*** SP/Orig LP% - Sale price divided by original list price.
Current Price Trends
The final statistics for 2007 have been released by the NWMLS. Prices rose sharply this month. The median price for December was $317k, which was a 5% decrease from the January 2007 figure of $334k.
The average cumulative days on market - total time a home is for sale, from listing to closing - reduced significantly to 47 days, down from 87 days the previous month. Buyers continue to have the upper hand, even though the average sale price to original list price rose to 94%, up from 93% in November.
Market Activity
Listing inventory continued falling to reach the lowest level since May ’07. There were 149 homes on the market to begin 2008. Buyers will soon notice that their choices are rapidly diminishing. The holiday season took its toll on sales with that figure dropping to the lowest level of the year. With just 7 homes sold, sellers must remain committed to proper pricing.
* Homes sold - single-family homes, both resale and new construction, but not condos or vacant land.
** Median home price - the middle price in a given sequence of prices, taken as the average of the two middle prices when the sequence has an even number of homes.
*** SP/Orig LP% - Sale price divided by original list price.
Current Price Trends
The final statistics for 2007 have been released by the NWMLS. Prices continued to slide for the third month after a significant gain in September. The median price for December was $308k, which was a 15% gain from the January 2007 figure of $266k.
The average cumulative days on market - total time a home is for sale, from listing to closing - dove sharply to 56 days, down from 120 days the previous month. Buyers continue to have the upper hand, even though the average sale price to original list price rose to 95%, up from 91% in November.
Market Activity
Listing inventory continued falling to reach the lowest level since March ’07. There were 114 homes on the market to begin 2008. Buyers will soon notice that their choices are rapidly diminishing. The holiday season took its toll on sales as they stayed flat for the third month. With just 9 homes sold, sellers must remain committed to proper pricing.
* Homes sold - single-family homes, both resale and new construction, but not condos or vacant land.
** Median home price - the middle price in a given sequence of prices, taken as the average of the two middle prices when the sequence has an even number of homes.
*** SP/Orig LP% - Sale price divided by original list price.
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Windermere Realtor - Real Estate Market Analysis, Single-Family Home and Condo Marketing, Seller Representation and Buyer Representation in Puyallup, Spanaway, Graham, Sumner, Orting and Tacoma.
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