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April Statistics

The lastest stats are in!

Taking a snapshot look at residential resales in King County for the period from January 1, 2008 thru April 30, 2008, we find:

  • 4107 units sold this year vs. 6398 units sold in 2007 in the same timeframe (down 36%) 6
  • Average price is up 1% to $542,659 5
  • Average $/sqft for homes sold was $283.49
  • The best price range to be in (as a seller right now) is $300,000 – $350,000. Absorption rate is about 130 units per month. Makes sense since more folks can afford lower priced homes (duh!)

Takeaway from all of this – Lots of inventory from which to choose (in the sense that the inventory levels are high), but prices are stable. Common sense tells us that the best homes always go first. What that means to the average seller, is that in this market if you’re overpriced or don’t have some extremely compelling feature about your home, it’s gonna take a bit longer to sell.

source: realestats.net

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