Kingston: Closed Transactions in July
Please note: we are comparing closings during this year's July and last year's July.
One more home closed in July this year.
Transactions took about five weeks longer to close. The average selling price was six percent lower.
Sellers accepted 13% less than they originally asked.
There are 77 homes on the market, with the lowest listing price $145,000, the highest at $1.8 million. The average listing price is $450,000 , with half the 77 homes under the median price of $403,000.
Silverdale: Closed Transactions in July
Please note: we are comparing closings during July of this year and last year.
21% fewer homes closed last month than during the same month last year.
Transactions closed about 11 days faster. The average selling price dropped by 15%.
Sellers accepted 2% less than they originally asked, which indicates their asking prices were very close to what the market wants.
There are plenty of homes in inventory (113) at all price ranges (the lowest listing is $98,900, the highest is $3.2M). Average listing price is $370,000 , with half the homes under the median price of $284,500.
According to David Stiff, chief economist for Fiserve, which provides financial analysis for the financial industry, the chances of the housing market recovering in the near future are slim (see this article from CNNMoney).
But the outook in Tacoma is much, much brighter.
"Stiff said markets that are ripe for a turnaround will be in the Pacific Northwest. The biggest gainer is expected to be Tacoma, Wash., where Fiserv said prices will rise nearly 25% by March 2013. Seattle and Portland's prices are expected to stay flat through next March and then record double-digit gains of just over 10% each over the following 12 months.
"Homes are undervalued in the Northwest," said Stiff, "the economy is diverse and the demographics strong. It has tech, manufacturing and extractive industries (like lumbering and mining) and people are still moving into the area."
If Stiff is correct, then buyers should buy now from sellers who need to sell.
Sellers who can wait can expect more money at closing, but they should of course factor in their mortgage payments and maintenance costs to determine whether a wait is worth it.
A seller who takes "a loss" will be able to purchase another home at lower cost today.
Closed Transactions Month of July
Please note: we are comparing closings during July of this year and last year.
41% fewer homes closed in Poulsbo in July.
Transactions took five weeks longer to close. The average selling price was 10 percent lower.
There are 154 homes in inventory at all price ranges ($94,000 to $1.8M) Average listing price is $369,000 , with half the inventory under $319,000.
Sellers accepted six percent less than their original asking price.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2013 ActiveRain Corp. All Rights Reserved
