Bob’s Bugle – Real Estate Newsletter – January 2007

 

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Bob's Bugle Real Estate Newsletter January 2007REAL ESTATE NEWS & INFORMATION

 

January 16, 2007

*December Housing Activity Continues Pattern of Growing Inventory, Fewer Sales & Higher Prices*

KIRKLAND, Wash. (Jan. 5, 2007) – December brought few surprises in housing activity around western Washington as buyers, sellers and members of Northwest Multiple Listing Service turned their attention to holidays. The storyline of recent months continued with brokers reporting growing inventory, fewer sales and rising prices.

In between shopping and severe storms, Northwest MLS notched 5,744 pending sales last month and added 5,357 new listings to inventory. December’s pending sales of single family homes and condominiums (combined) fell 9.8 percent from the same month a year ago. Of those transactions, condo sales improved on year-ago totals, rising 5.3 percent, but single family homes slipped by about 12.5 percent.

At month-end, prospective buyers could choose from 28,307 properties offered for sale across 19 counties. That’s up more than 37 percent from a year ago when there were 20,595 listings system-wide.

Every county has more inventory than 12 months ago – and higher asking prices.

Sales prices also jumped from a year ago. The median price for sales of single family homes and condominiums that closed during December was $315,000, up about 9.4 percent from twelve months ago when the median sales price was $288,000.

For single family homes only (excluding condos) the area-wide sales price was $330,000, up $29,000 (9.6 percent) from a year ago, but a $1,000 less than November’s median sales price.

Condo prices rose more sharply, climbing to $240,000 for last month’s completed transactions. That’s up 14.6 percent from December 2005 when the median selling price was $209,450. In November the area-wide median sales price for condos that sold was $249,900.

In King County, the median sales price for last month’s closed sales of single family homes (only) was $440,000, up about 12 percent from a year ago. Condo prices in King County jumped 21 percent, rising to nearly $270,000 from the year-ago median selling price of about $223,000.00.

Referrals are a “very” important part of my business. Please let me know of anyone that you know who may be considering Buying or Selling real estate – or please give them my name and contact information!

 

Thank You!

 

Bob Chapman

 

Bob’s Bugle Real Estate Newsletter January 2007

 

STATISTICAL SUMMARY BY COUNTIES

Market Activity Summary for December 2006
 
December 2006 Single Fam. Homes + Condos
LISTINGS
PENDING SALES
CLOSED SALES
New Listings
Total Active # Pending Sales # Closings Avg. Price Median Price

King Co.

1,602

6,802

2,251

2,592

$477,845

$399,900

Snohomish

966

3,636

935

1,128

$378,284

$341,831

Pierce

1,040

5,286

916

1,121

$302,900

$269,950

Kitsap

230

1,698

244

303

$341,496

$261,700

Mason

93

561

53

79

$233,589

$220,000

Skagit

97

817

111

129

$291,661

$250,000

Grays Harbor

79

639

56

67

$200,604

$165,000

Lewis

104

576

52

74

$181,543

$170,500

Cowlitz

86

514

71

76

$213,788

$183,500

Grant

60

340

75

72

$163,533

$146,500

Thurston

274

1,546

319

387

$278,959

$255,000

San Juan

8

190

10

12

$560,958

$594,500

Island

94

736

87

117

$349,217

$296,000

Kittitas

42

302

40

50

$303,834

$249,500

Jefferson

32

343

41

53

$351,553

$310,000

Okanogan

28

245

19

22

$172,191

$150,000

Whatcom

233

1,787

208

235

$300,313

$265,000

Clark

195

1,369

165

169

$326,512

$265,000

Pacific

28

236

25

35

$184,858

$159,900

Others

66

684

66

75

$267,686

$250,000

MLS TOTAL

5,357

28,307

5,744

6,796

$377,389

$315,000

 

4-COUNTY PUGET SOUND REGION PENDING SALES

(SFH + Condo combined)


(totals include King, Snohomish, Pierce & Kitsap counties)
 JanFebMarAprMayJunJulAugSepOctNovDec
20003706477859035116549050794928543245694675 41263166
20014334505657225399563155685434
5544
4040
4387
4155
3430
2002429347355569543661315212552562155394577749664153
2003474652906889683771487202767371356698655249044454
2004452162848073791078888186758374646984676162285195
2005542668338801842086108896 820787847561715761884837
2006527560328174765184118094712176926216640352924346

This information is from the Northwest Multiple Listing Service which is the largest full-service MLS in the Northwest. Based in Kirkland and owned by its member brokers, it currently encompasses more than 2,000 companies with approximately 27,000 sales associates. Together, they serve 17 counties, mostly in western Washington, plus Grant, Kittitas and Okanogan counties in the central part of the state. NWMLS recently added service to Clark County with the opening of an office in Vancouver.

Bob’s Bugle Real Estate Newsletter January 2007, copyright 2007. All material contained herein is owned and protected. Any attempts to reproduce this information without the express written consent from the owner will be prosecuted.

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Let a trained professional Windermere agent, Bob Chapman, assist you in your Snohomish County real estate home or vacant land buying or selling transaction.

This Snohomish County real estate website page also has a home loan or mortgage calculator.

Please visit the links pages in the navigation bar. There you will find links to:  Snohomish County & Washington State School Districts information which includes the official websites of School Districts in Snohomish County and Washington State; The official Washington State government website, Snohomish County & City government websites and Valuable Real Estate Informational and Resource links.