| Hello my friends & clients Over the past 9 to 10 months, there has been a tremendous amount of negative media about how sour the real estate market it; so much so that I thought I would do a bit of research, simple process it was; to see how just two Washington state counties have fared thus far in this current market. Beginning with Jan 2008 and comparing to where we currently are as of March 25, 2009 ……..Here is what I found WE HAVE A GREAT REAL ESTATE MARKET! Data collected by the NWMLS reflects the following numbers PIERCE COUNTY: 2008 total number of units sold was 8,306 Month on month comparison: Jan 08 had 531 homes sold - v- Jan 09 had 368 homes sold Feb 08 had 568 homes sold - v- Feb 09 had 422 homes sold down only 26% - that means 74 out of 100 homes have sold thus far – that is GREAT! Home values are down only 6% from Jan 08 to Jan 09 – that is GREAT news , considering we experienced double digit market value increases year over year from 2001 to 2006….and There are currently 5683 homes Active on market (down approx 4K from a year ago); and 1267 PENDING sales so far since Jan 01 this year, and 1083 (up 273 since 3-9-09) SOLD units so far this year goodness, if the 1267 close by end of March – Pierce county would have sold 2350 homes so far in 2009, that represents better than 28% of 2008 sales, thus far. KING COUNTY: 2008 total number of units sold of 16,997 Month on month comparison: Jan 08 had 1,080 homes sold –v- Jan 09 had 628 homes sold Feb 08 report not available down 40%, but that still means 60 homes out of 100 have sold thus far – that is still GREAT! Home values are down only 11% from Jan 08 to Jan 09 – that is still GREAT , again considering King experienced double digit market value increases year over year from 2001 to 2006….and There are currently 9,772 homes Active on market; and 1,657 PENDING sales so far since Jan 01 this year and 1400 SOLD units so far this year. Yes, the real estate market is not what it was from 2001 to 2006, but those were UNUSUAL years……..the market has now corrected itself and for some areas, the correction will still go on for another year or so, yet what I am seeing on a daily basis is that Buyer's are BUYING. I don't have a crystal ball, nor can I make any promises, but if your home is priced right and in the best showing condition possible, the home will sell………………we all just have to have patience. At least we are not experiencing what Arizona, Florida and California have – 50% (+/-) market to loan value loss, 1 in 3 homes in foreclosure or near foreclosure……we are doing much better. I find this news encouraging, I hope you do too. So if any of you are thinking of selling or buying, it is still a good market, especially for the investment purchases….. Keep up the faith………….. And remember, your referrals are greatly appreciated. Cheryl Malicoat, Broker Park Place Realty, Ltd "Where the choices are!" Ph: 253-884-3407 |
 |
 |
 |
| Park Place Realty, Ltd "Where the choices are!" |
Tm