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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