Seattle Eastside Real Estate Stats for Sept 2011

Time has been a friend in the Seattle Eastside Real Estate world…by that, I mean we’re sitting on 22% less inventory than this time last year…Yes, that’s good news!  Serious sellers occupy the market and consequently, that’s the property that’s selling.  Here’s the monthly highlights:

  • Pending contracts month-to-date are up 16%
  • Pending contracts year-to-date are up 8%
  • Closed sales month-to-date are up 34%
  • Closed sales year-to-date are up 10%
  • Median closed sales prices are down 5%

The key take-away this month is inventory numbers are continually dropping; both from sales and sellers thinking we’re headed into a slow market.  The real story is, we’re headed into a market of the most serious buyers we see all year.  Those that choose to move when inventory is low are often relocation buyers…serious buyers!  And basic principles of econ 101; when inventories are low, prices have a reason to rise…Oh ya, our job economy is highly active in the tech arena.  What do you think we’ll see?

  

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