Seattle Eastside Real Estate Stats for Aug 2011

Our Seattle Eastside Real Estate Stats for Aug 2011 are holding steady and most definitely moving in the positive direction.  Looking at the entire Seattle area, we’re sitting at a Balanced Market (yellow: 3-6 mo of inventory) with a few areas at a Seller’s Market (red: 0-3 months inventory)…and if you’ve been tracking, this has been the direction our market has been heading in starting with the most positive turn-of-the corner in Dec 2010 and every month since.

For the Seattle Eastside, prices are beginning to increase, with an acceptable 11% over last Aug 2010.  Sales volume is also up 33% from a year ago (Aug 2010) with a decrease in inventory of 35% from a year ago as well, meaning those homes coming on the market are selling much faster than a year ago at an average of 99 days.  Homes are now going under contract at an average of 74 days on the market, which is a decrease of time-on-the-market by 25% from Aug 2010.  Correct pricing is still a big key and I think will be for some time.  I don’t predict our prices to jump up drastically as we had seen in the late 90’s and early 2000’s.  Slow and steady wins the race…right?

Take a look at My Library and review the past stats:   going from mostly Green, to more & more Yellow to all Yellow with some Red…All of this is very good news, wouldn’t you agree!

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2 responses to “Seattle Eastside Real Estate Stats for Aug 2011

  1. I like your slow and steady comment…and here in Phoenix, AZ…it could not be more true! Sounds like your market is fairing pretty well all in all… 🙂

    • Thanks for your comment Adele. Our market has been impacted, but most areas not as severe as Phoenix or Nevada or Florida. We’re really representative of many ‘mini-markets’ in the Seattle area, some fairing better than others, yet still feeling the pain. We’re lucky to have a strong, diversified economy here that is hiring.

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