Home » Central District, Community, Downtown, Eastside, FRONT PAGE FEED, First Time Homebuyers, Investors, Kent, North End, North Seattle, Queen Anne, Relocation, Renton, Seatac, Tukwila, West Seattle

Residential Housing Statistics in King County December 2009

4 February 2010 By Sebnem Oden View Comments

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….

Leave your response!

Add your comment below, or trackback from your own site. You can also subscribe to these comments via RSS.

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar.

blog comments powered by Disqus