Residential Housing Statistics in King County December 2009
I was just asked this week how is the Real Estate Market in King County since I mentioned earlier about Snohomish County. Well here is information which was requested about King County. Northwest Multiple Listing Service (MLS) reported as following statistics for Dec 2009. Jan 2010 stats will be published in the coming weeks. We still got 21 months of inventory in King County while Snohomish County got 19 months of inventory of homes for sale.
| UNITS | ACTIVE | PENDING | SOLD | ||
| DEC 09 UNITS | 6,918 | 1,413 | 1462 | ||
| DEC 08 UNITS | 8,707 | 911 | 929 | ||
| Total Unit +/- | -1789 | 502 | 533 | ||
| Difference DEC % | -20.55% | 55.10% | 57.37% | ||
| YTD 09 UNITS | 33,744 | 23,019 | 16,022 | ||
| YTD 08 UNITS | 38,889 | 18,895 | 15,991 | ||
| Total Unit +/- | -5145 | 4124 | 31 | ||
| Difference YTD % | -13.23% | 21.83% | 0.19% |
As seen above chart, Residential active listings units dropped 20.55% from 8707 units in 2008 to 6918 units in December 2009 while Pending Residential units increased 55.10%, as Dec 09 pending listings were 1413 units compare to 911 units in December 2008. There is a huge increase in sold units at 57.37%, 1462 units closed in 2009 vs 929 units in 2008. Snohomish County Sold Residential unit increase is at 89.02% when compared to 2008.
| MEDIAN PRICE | ACTIVE | PENDING | SOLD | ||
| DEC 09 MEDIAN | $425,000 | $349,000 | $380,000 | ||
| DEC 08 MEDIAN | $495,000 | $374,900 | $403,500 | ||
| Price +/- | -$70,000 | -$25,900 | -$23,500 | ||
| Difference DEC % | -14% | -7% | -6% | ||
| YTD 09 MEDIAN | $479,950 | $370,000 | $380,000 | ||
| YTD 08 MEDIAN | $509,950 | $424,950 | $429,950 | ||
| Price +/- | -$30,000 | -$54,950 | -$49,950 | ||
| Difference YTD % | -5.88% | -12.93% | -12.0% |
As seen above chart, Median Price declined all across for Active, Pending and Sold Listings. For December 09 sold median price was $380,000, dropped 6% compare to Dec 2008 while year to date Median price dropped further to 11.62%.
| DAYS ON MARKET | ACTIVE | PENDING | SOLD | ||
| DEC 09 DOM | 131 | 89 | 83 | ||
| DEC 08 DOM | 128 | 87 | 84 | ||
| Days +/- | 3 | 2 | -1 | ||
| Difference DEC % | 2.34% | 2.30% | -1.19% | ||
| 09 YTD DOM | 109 | 77 | 78 | ||
| 08 YTD DOM | 93 | 75 | 73 | ||
| Days +/- | 16 | 2 | 5 | ||
| Difference YTD % | 17.20% | 2.67% | 6.85% |
As seen above chart, the other important indicator to watch is “Days on the market” (DOM). There isn’t a significant difference, as little as 1.19% for Dec 09 and 6.85% for the year.
Over all, Inventory of homes dropping while sold home units are increasing. December 2009 Market Trend is showing a promising future for buyers and sellers. Yes, values are declining as there is activity out there…..
If you would like more personalized information for your area, please contact me via emailSebnem.oden@exprealty.com or visiting my website www.ProKeyRE.com
Wishing you a prosperous real estate future….
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