On the heels of last weeks posting of statistics just for Mukilteo, I’m also going to post stats for other areas in the North Sound. All data compiled from but not published or verified by NWMLS. Includes Residential and Condominium.
Area 600 (Woodinville, Duvall, Juanita/N. Kirkland, Kenmore)
|
Inventory |
Median $ |
DOM |
||||||
| 08/07 | 08/06 | % Chg | 08/07 | 08/06 | % Chg | 08/07 | 08/07 | |
| Active | 851 | 529 | +60% | $529,900 | $524,950 | +.9% | 64 | 55 |
| Pending | 174 | 296 | -41% | $440,975 | $364,975 | +20% | 51 | 39 |
| Sold | 211 | 293 | -28% | $442,000 | $402,000 | +10% | 52 | 35 |
Market Absorption Rate (the amount of time it would take to sell all existing inventory at the current rate of sales) in area 600 is currently 5 months. This is a buyer’s market. Prices continue to increase, as does inventory.
Area 720 (Lake Forest Park, Kenmore)
|
Inventory |
Median $ |
DOM |
||||||
| 08/07 | 08/06 | % Chg | 08/07 | 08/06 | % Chg | 08/07 | 08/06 | |
| Active | 228 | 121 | +88% | $429,450 | $450,000 | -4.5% | 52 | 53 |
| Pending | 64 | 46 | +39% | $354,725 | $392,000 | -9.5% | 52 | 46 |
| Sold | 67 | 61 | +9.8% | $329,950 | $394,500 | -16% | 43 | 41 |
Market Absorption Rate in area 720 is currently 3.5 months. This is a balanced to buyer’s market. Market absorption is strong in this area most likely due to substantial lowering in the median price. This is most likely due to an almost 90% increase in inventory over 2006, forcing sellers to lower prices in order to be competitive.
Area 730 (Edmonds, Lynnwood, Brier, Mountlake Terrace - SW Snohomish County)
|
Inventory |
Median $ |
DOM |
||||||
| 08/07 | 08/06 | % Chg | 08/07 | 08/06 | % Chg | 08/07 | 08/06 | |
| Active | 1,248 | 816 | +52% | $409,335 | $429,250 | -4.6% | 64 | 53 |
| Pending | 223 | 365 | -39% | $384,950 | $343,000 | +12% | 56 | 45 |
| Sold | 249 | 380 | -34% | $383,700 | $340,500 | +12% | 50 | 39 |
Market Absorption Rate in area 730 is currently 5.5 months. This is a buyer’s market. Prices continue to increase, but inventory and market time is also rising.
Area 740 (Mukilteo, Mill Creek, Bothell, Everett)
|
Inventory |
Median $ |
DOM |
||||||
| 08/07 | 08/06 | % Chg | 08/07 | 08/06 | % Chg | 08/07 | 08/06 | |
| Active | 1,756 | 1,011 | +74% | $379,943 | $392,500 | -3% | 72 | 59 |
| Pending | 326 | 479 | -32% | $339,470 | $324,950 | +4.5% | 74 | 47 |
| Sold | 361 | 520 | -30.5% | $344,950 | $345,500 | -.15% | 66 | 38 |
Market Absorption Rate in area 740 is currently 5 months. This is a buyer’s market. Prices are flat as compared to last year, with inventory up almost 75% as compared to 2006. A small decrease in closed sale prices may indicate that prices in this area have plateaud and may come down in the coming months.
About the Author: Sandy Kaduce is Associate Broker of Gallery Homes Real Estate. She serves buyers and sellers in North King and South Snohomish counties. She is 2009 Board President of the Mukilteo Chamber of Commerce, as well as Vice President of Site Selection for Habitat for Humanity of Snohomish County. For more information, visit Sandy on the web at www.sandykaduce.com! Read more from this authorSphere: Related Content
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