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Housing Trends

Thursday, February 12, 2009
by Stephanie Dawson

John L. Scott just released their Housing Trends newsletter for agents to share with their clients.  Not all of my blog readers are in my real estate newsletter recipient database, so I thought I'd share this Housing Trends information with you here.

Please click the link for the county or area you are interested in.  If you'd like to receive my e-newsletter, my monthly newsletter titled "Your Home," or if you'd like me to email these Housing Trends newsletters directly to your inbox... please contact me.  I'd love to hear from you and help you.

King County

Pierce County

Kitsap County

Snohomish County

Spokane County

Whatcom County

Clark County

 

For a related article, please read my blog entry about buying power. 

King & Pierce County, WA Real Estate Market Update for January 2009

Saturday, January 10, 2009
by Stephanie Dawson
King & Pierce County Update for January 2009
 
When comparing December 2008 to December 2007, the average price of a home* in King County appreciated 1.53 percent, according to the NWMLS statistics.  This is the first time we have seen an appreciation in this market since April 2008. Compared with December of last year, the average price increased from $477,087 to $484,494 and the median price dropped from $389,500 to $370,700 for a decrease of 5.07 percent over December 2007.  The average asking price for a resale home or condo in King County is $669,100 - not including brand new homes. 
 
Although we are seeing prices drop when we compare 2007 to 2008, it's a different story when you look at how the King County real estate market performed compared to the previous month.  The second chart below shows a year at a glance.  It shows that home sale prices increased between November and December of 2008, so it's not all bad news.
 
The average time that homes were on the market before accepting an offer was 86 days, which is the same number we saw for November 2008.  At the end of December 2007, there were 10,947 active homes for sale in King County.  By comparison, at the end of December 2008, there were 11,636 actively listed homes for sale in the MLS in King County, representing a 9.97 month supply of homes.   If you regularly read my newsletter, you know that six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.  
 
If you are thinking about buying, this is an excellent time to get a great deal on a home! Interest rates are very low, and home buyers can now purchase homes that would have cost an additional hundred thousand dollars or more a year or two ago.
 

 

 

 

  
   
    
  
   
   
    
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
 

 

 

Pierce County
When comparing December 2008 to December 2007, the average price of a home* in Pierce County depreciated 14.98 percent, according to the NWMLS statistics.  More specifically, the average price fell from $298,898 to $259,953 and the median price fell from $269,950 to $235,000 for a decrease of 14.87 percent over December 2007.  In Pierce County, the average asking price for a resale house or condo is $382,028 - and that doesn't include any of the new homes that builders are trying to offload.
 
The average time that homes were on the market before accepting an offer was 99 days.  In December 2007, there were 7,109 active homes for sale in Pierce County.  At the end of December 2008, there were 6,315 active homes for sale in the MLS in Pierce County, representing an 11.02 month supply of homes.  If you read my newsletter regularly, you know that six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
 
If you are thinking about buying, this is an excellent time to get a great deal on a home! Interest rates are very low, and home buyers can now purchase homes that would have cost an additional hundred thousand dollars or more a year or two ago.
  
   
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA Real Estate Market Update for December 2008

Tuesday, December 09, 2008
by Stephanie Dawson
King & Pierce County Update for December 2008
When comparing November 2008 to November 2007, the average price of a home* in King County depreciated 8.21 percent, according to the NWMLS statistics.  Compared with November of last year, the average price decreased from $476,207 to $440,062 and the median price dropped from $385,990 to $365,000 for a decrease of 5.75 percent over November 2007.   The average asking price for a resale home or condo in King County is $664,008 - not including brand new homes.
 
The average time that homes were on the market before accepting an offer was 86 days.  At the end of November 2007, there were 13,188 active homes for sale in King County.  By comparison, at the end of November 2008, there were 13,578 active homes for sale in the MLS in King County, representing a 9.4 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.  
 
If you are thinking about buying, this is an excellent time to get a great deal on a home! Interest rates are very low, and home buyers can now purchase homes that would have cost an additional hundred thousand dollars or more a year or two ago.
 

  
   
    
  
   
   
    
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
 

 

 

Pierce County
When comparing November 2008 to November 2007, the average price of a home* in Pierce County depreciated 14.61 percent, according to the NWMLS statistics.  More specifically, the average price fell from $296,996 to $259,145 and the median price fell from $262,950 to $230,000 for a decrease of 14.33 percent over November 2007.  In Pierce County, the average asking price for a resale house or condo is $384,356 - and that doesn't include any of the new homes that builders are trying to offload.
 
The average time that homes were on the market before accepting an offer was 97 days.  In November 2007, there were 7,981 active homes for sale in Pierce County.  At the end of November 2008, there were 6,998 active homes for sale in the MLS in Pierce County, representing a 10.44 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
 
If you are thinking about buying, this is an excellent time to get a great deal on a home! Interest rates are very low, and home buyers can now purchase homes that would have cost an additional hundred thousand dollars or more a year or two ago.
  
 
   
    
  
  
  
 
   
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA - November 2008 Real Estate Market Update

Wednesday, November 12, 2008
by Stephanie Dawson
King & Pierce County Update for November 2008
When comparing October 2008 to October 2007, the average price of a home* in King County depreciated 7.95 percent, according to the NWMLS statistics.  Compared with October of last year, the average price decreased from $482,839 to $477,281 and the median price dropped from $387,500 to $358,500 for a decrease of 8.09 percent over October 2007.   The average asking price for a resale home or condo in King County is $669,698 - not including brand new homes.
 
The average time that homes were on the market before accepting an offer was 81 days.  At the end of October 2007, there were 14,240 active homes for sale in King County.  By comparison, at the end of October 2008, there were 14,655 active homes for sale in the MLS in King County, representing a 8.49 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.  
 
October
  
   
    
  
   
   
    
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

 

 

Pierce County
When comparing October 2008 to October 2007, the average price of a home* in Pierce County depreciated 11.11 percent, according to the NWMLS statistics.  More specifically, the average price fell from $304,061 to $273,665 and the median price fell from $274,950 to $241,000 for a decrease of 10.44 percent over October 2007.  In Pierce County, the average asking price for a resale house or condo is $390,296 - and that doesn't include any of the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 87 days, which is ten days better than September’s number of 97 days.  In October 2007, there were 8,439 active homes for sale in Pierce County.  At the end of October 2008, there were 7,244 active homes for sale in the MLS in Pierce County, representing a 9.61 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
  
 
   
   
  
  
  
  
  
   
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA - October 2008 Real Estate Market Update

Thursday, October 09, 2008
by Stephanie Dawson
King & Pierce County Update for October 2008
When comparing September 2008 to September 2007, the average price of a home* in King County depreciated 8.48 percent, according to the NWMLS statistics.  Compared with September of last year, the average price decreased from $486,404 to $448,387 and the median price dropped from $395,000 to $380,315 for a decrease of 3.86 percent over September 2007.   The average asking price for a resale home or condo in King County is $664,511 - not including brand new homes.
 
The average time that homes were on the market before accepting an offer was 77 days.  At the end of September 2007, there were 14,537 active homes for sale in King County.  By comparison, at the end of September 2008, there were 15,438 active homes for sale in the MLS in King County, representing a 6.73 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market. We have been hovering over the balanced market for 6 months now, contrary to what the media promotes.
 

  

 

 

  

  

 

   

 

 

*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

 
  

Pierce County
  
When comparing September 2008 to September 2007, the average price of a home* in Pierce County depreciated 10.52 percent, according to the NWMLS statistics.  More specifically, the average price fell from $303,156 to $274,288 and the median price fell from $269,925 to $241,950 for a decrease of 11.56 percent over September 2007.  In Pierce County, the average asking price for a resale house or condo is $394,912 - and that doesn't include any of the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 97 days.  In September 2007, there were 8,681 active homes for sale in Pierce County.  At the end of September 2008, there were 7,710 active homes for sale in the MLS in Pierce County, representing a 7.76 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
  
     
    
  
 
 
   
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA Update for September 2008

Saturday, September 13, 2008
by Stephanie Dawson
King & Pierce County Update for September 2008
  
When comparing August 2008 to August 2007, the average price of a home* in King County depreciated 8.7 percent, according to the NWMLS statistics.  Compared with August of last year, the average price decreased from $519,450 to $477,877 and the median price dropped from $415,000 to $388,350 for a decrease of 6.86 percent over August 2007.   The average asking price for a resale home or condo in King County is $657,651 - not including brand new homes.
 
With end-of-summer family vacations and back-to-school preparations, we saw a longer period of time pass before homes were sold in August. The average time that homes were on the market before accepting an offer was 80 days.  At the end of August 2007, there were 13,415 active homes for sale in King County.  By comparison, at the end of August 2008, there were 15,875 active homes for sale in the MLS in King County, representing a 6.86 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market. We have been hovering over the balanced market for 6 months now, contrary to what the media promotes.

 

  

 

  

  

   

  

 

*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

 
  

 

 

Pierce County
  
When comparing August 2008 to August 2007, the average price of a home* in Pierce County depreciated 16.84 percent, according to the NWMLS statistics.  More specifically, the average price tumbled from $326,520 to $279,452 and the median price fell from $285,000 to $250,975 for a decrease of 13.56 percent over August 2007.  In Pierce County, the average asking price for a resale house or condo is $400,212 - and that doesn't include any of the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 89 days, which is an improvement over last month’s average.  In August 2007, there were 8,839 active homes for sale in Pierce County.  At the end of August 2008, there were 7,958 active homes for sale in the MLS in Pierce County, representing a 8.01 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
  
     
    
  
 
   
 
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA Update for August 2008

Sunday, August 10, 2008
by Stephanie Dawson
King & Pierce County Update for August 2008
  
When comparing July 2008 to July 2007, the average price of a home* in King County depreciated 5.43 percent, according to the NWMLS statistics.  Compared with July of last year, the average price decreased from $529,773 to $502,500 and the median price fell from $425,000 to $401,500 for a decrease of 5.85 percent over July 2007.   The average asking price for a resale home or condo in King County is $653,160 - not including brand new homes!
 
The average time that homes were on the market before accepting an offer was 69 days, which is an improvement over last month.  At the end of July 2007, there were 12,902 active homes for sale in King County.  By comparison, at the end of July 2008, there were 16,313 active homes for sale in the MLS in King County, representing a 6.9 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.  We have been hovering over the balanced market for 6 months now, contrary to what the media promotes.
  

 

 

 

 

*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
 
  

Pierce County
When comparing July 2008 to July 2007, the average price of a home* in Pierce County depreciated 9.33 percent, according to the NWMLS statistics.  More specifically, the average price decreased from $313,398 to $286,666 and the median price fell from $281,400 to $255,000 for a decrease of 10.35 percent over July 2007.  In Pierce County, the average asking price for a resale house or condo is $403,534 - and that doesn't include any of the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 90 days, which is an improvement over last month’s average.  In July 2007, there were 8,700 active homes for sale in Pierce County.  At the end of July 2008, there were 8,123 active homes for sale in the MLS in Pierce County, representing a 6.97 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
 
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA Update for July 2008

Tuesday, July 08, 2008
by Stephanie Dawson

 

King County Update for July 2008
  
When comparing June 2008 to June 2007, the average price of a home* in King County depreciated 1.04 percent, according to the NWMLS statistics.  Compared with June of last year, the average price decreased from $507,968 to $502,727 and the median price fell from $414,950 to an even $400,000 for a decrease of 3.74 percent over June 2007.  The good news is that June's average home price appreciated 1.59 percent over May 2008.  Sellers remain optimistic about the housing market: the average asking price in King County is $660,953 - not including brand new homes!
 
The average time that homes were on the market before accepting an offer was 72 days, which is another nice improvement over last month.  At the end of June 2007, there were 12,282 active homes for sale in King County. By comparison, at the end of June 2008, there were 15,831 active homes for sale in the MLS in King County, representing a 6.21 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
 
 
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
 
Pierce County Update for July 2008
  
When comparing June 2008 to June 2007, the average price of a home* in Pierce County depreciated 7.59 percent, according to the NWMLS statistics.  More specifically, the average price decreased from a record high of $320,511 to $297,890 and the median price fell from $277,500 to $259,250 for a decrease of 7.04 percent over June 2007.  The silver lining is that closed home sale prices have increased 1.63 percent compared to May 2008.  Sellers remain optimistic because the average asking price of a home in Pierce County is $404,270 - and that doesn't include all the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 97 days, which is an improvement over last month’s average.  In June 2007, there were 8,426 active homes for sale in Pierce County.  At the end of June 2008, there were 7,949 active homes for sale in the MLS in Pierce County, representing a 7.56 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

LinkedIn

Tuesday, June 17, 2008
by Stephanie Dawson

Do you used the website LinkedIn for networking?  I set up a profile a long time ago and now and then I get updates or invitations from people, asking if I will link to them.  I don't know if anyone I know has used it for finding jobs, locating trusted people to work with that are linked to their friends, or reconnecting with former colleagues... but I think that's what the website was designed for.  I guess it's sort of like Facebook, Friendster, or MySpace for business-people.

If you are on LinkedIn (or if you use Plaxo to update your contacts), I am curious to know if you have met new people, and if you've used the website more fully than I have.  I'd love some feedback.

Tonight I accidentally sent an email request to join my network to EVERY EMAIL ADDRESS I had ever saved in Outlook.  OOPS!  I did not mean to email the whole world!  Oh well, I guess it could be a happy accident because I may reconnect with people I have lost touch with!  :)

So, be careful because it's really easy to send your whole address book an invitation to join!

Have a good night.

King & Pierce County, WA Real Estate Update - January 2008

Friday, January 11, 2008
by Stephanie Dawson

King County

When comparing December 2007 to December 2006, the average price of a home* in King County depreciated less than half of one percent, according to the NWMLS.  More specifically, the average price fell slightly from $477,087 to $477,659 and the median price fell from $399,700 to $389,500 for a decrease of 2.62% over December 2006. 

 
The average time that homes are on the market before accepting an offer was 105 days.  At the end of December there were 10,947 active homes for sale in the MLS for King County, representing a 7.36 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.   
 
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports.
 

Pierce County
 
When comparing December 2007 to December 2006, the average price of a home* in Pierce County depreciated 1.23%, according to the NWMLS.  More specifically, the average price fell slightly from $302,572 to $298,898 and the median price increased very slightly from $269,925 to $269,950 for an increase of one tenth of a percent over December 2006. 
 
The average time that homes are on the market before accepting an offer was 129 days.  At the end of December there were 7,109 active homes for sale in the MLS for Pierce County, representing a 10.72 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.  
 
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums.  All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports.
 

Contact Information

Photo of Stephanie Dawson Real Estate
Stephanie Dawson
John L. Scott KMS Real Estate
20632 - 108th Ave SE
Kent WA 98031
Direct: (206) 419-2833
Fax: Office: (253) 852-9200 ext. 357
Send An Email

I am a life-long King County resident and a REALTOR® who cares!  Read about my efforts to collect toiletry items for the Seattle Ronald McDonald House.  Let's give back!

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