Well, October was spooky quiet with only 2 new listings!
The market has definitely slowed down in the past month evidenced by our overall lack of inventory in the neighborhood. 3 homes went pending and 3 sold with days on market increasing considerably since the spring and summer.
So what does this mean? Historically, we do see a slowdown in the market in the fall as days are shorter
and buyers start to focus on the holidays. The good news for sellers is that a lack of inventory and high
numbers of qualified buyers make our current market environment very appealing.
Here is a great article, "The Importance of Curb Appeal," from the KCM Blog that gives some pointers of how to give your house some curb appeal before putting it on the market.
NEW LISTINGS
Price Quantity
$850,000 - $899,999 1
$2,000,000 1
Average price = $1,822,500
CONTINGENT
Price Range Quantity DOM* (Days on Market)
$850,000 - $899,999 1 35
Average price $850,000
PENDING INSPECTION
Price Range Quantity DOM
$900,000 - $949,999 1 25
Average price $929,950
PENDING
Price Range Quantity DOM
$550,000 - $599,999 1 45
$1,000,000 - $1,249,999 1 12
Average price $875,000
SOLD
Price Range Quantity DOM
$700,000 - $749,999 1 62
$850,000 - $899,999 1 88
$1,000,000 - $1,249,999 1 6
Average sales price = $900,333
If you have any questions regarding current real estate trends Kim can be reached at 206.235.7772 or kodales@windermere.com.
* Correction a typo was made on in the September Blog regarding a home that was listed for $2,100,000
that sold in September for $2,000,000. I stated that the days on market equaled 190 the correct number
per the Northwest Multiple Listing Service is.
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