"Statistics not compiled or published by NWMLS." I hand calculate all of my stats, I compile them and I publish them. I note the source as NWMLS, as that is the system I use to get the raw data.
Jun. 23, 2008 - Visual of Price Changes King County Condos
Not posted or compiled by NWMLS (required disclosure)
The last figure is the median price per square foot of those closed inthe last 30 days. Those currently in escrow have a lower median price, so I believe the uptick is a blip.
Not to single out Redmond here, just giving you a visual of how prices have changed since the 3rd quarter of 2007. The final number is the median price per square foot of closed sales in the last 30 days.
Not posted or compiled by NWMLS (required disclosure)
"As to prices, so far condos are down 6.7% from peak pricing; Residential is down 4.8% from peak and residential “in escrow” down 6.5% from peak pricing." Today I will be using similar methods to evaluate varios Zip Codes starting with Redmond 98052.
Volume down 30% (Much better than Bellevue or Kirkland or the County as a whole)
Currently in escrow awaitng close 48
Currently for sale 156. By 2007 standards that would have been just over 4 months of inventory.
By 2008 standards that is over 6.6 months of inventory.
Median days on market has increased from 19 days to 56 days.
Prices are down by 3.5% from $307 per square foot to $296 per squre foot (median)
I expect to see median days on market getting better. The median price per square foot of properties for sale is more in line with what they are actually selling for than in Bellevue or Kirkland.
Currently for sale 389. By 2007 standards that would have been just over 4.5 months of inventory.
By 2008 standards that is 11.8 months of inventory.
Median days on market has increased from 27 days to 45 days.
Prices are down by 6% from $334 per square foot to $314 per squre foot (median)
Of note, properties in escrow and those on market have asking prices that are WAY up to $400+ per square foot. Must be weighted more heavily to new construction.
208 homes for sale with a median asking price of $650,000 at $248 MPPSF
127 sold YTD with a median price of $640,000 and $233 MPPSF (median asking price of the homes that sold was $659,000.
55 in Escrow with median asking price of $649,950 and MPPSF of $237.
MPPSF is down from $251 to $237 vs. this same time last year, but DOM increased from 22 days to 63 days, so like other areas and what I'm seeing, most of the price issues are created by stale inventory pricing to sell before new inventory comes in market.
Not bad. Better than King County as a whole as to volume. Down 22% vs. King County being down 32% as to volume. Prices are a bit off on a price per square foot basis, but median prices are up at $630,000 vs. $624,000 last April. You get more square footage for that more money, so MPPSF is down. but compared to Woodinville, Sammamish is doing great...and almost as good as Redmond.
May. 12, 2008 - Woodinville 98072 - Home Sale Stats
I'm glad someone requested Woodinville, as I've been curious about what's been happening there. Seems to me sales were very sluggish and it's been a very long hard winter. We'll see if my perception was correct.
Currently for sale 164 houses with a median asking price of $622,000 of $246 per square foot.
Only 12 closed in April at a MPPSF of $198
61 closed year to date vs. 91 closed during the same time in 2007.
29 sold in April 2007 MPPSF $227. April 2008 12 sold MPPSF $198
The median asking price of the 61 that sold this year was $569,950.
The median SOLD price of the 61 that sold this year was $538,850.
61 divided by 4 months averages 15.25 houses a month with only 12 closed in April. With 164 on market, that's over 10 months of inventory.
These stats not compiled or published by NWMLS, all hand calculated by ARDELL
Not worth mentioning the condos. Only 8 closed in 2008 in the first 4 months with 29 for sale.
May. 11, 2008 - Redmond Washington Sales Stats 98052
Redmond Washington 98052 faring better than King County as a whole.
Residential Volume in King County is down 32% YTD in 2008 vs. 2007. Redmond 98052 is down 20%
Median Sale price in April of 2008 was $605,000 vs. $642,550 in April of 2007
MPPSF April 2008 $246 vs. $256 in 2008. YTD MPPSF only $263 in 08 vs. $264 in 07.
I did see some significant price drops on Fall inventory that was still hanging around. Likely in an effort to get sold before new 2008 inventory started flooding the market. This could account for the drop in prices in April. Let's see if it swings back or if sellers use the recent reduced prices as comps at time of setting their list prices. Or if buyers hold out for the comp prices.
Median prices in March were the same in 07 vs. 08 at $575,000. So prices just didn't jump up as high March to April in 2008 vs. 2007. Again, I think this is somewhat due to stale inventory making a huge effort to get sold before new inventory takes over the market and they get left behind.
256 homes for sale, 81 in escrow and 140 sold YTD and 43 sold in April (vs. 48 sold in April 07) Pretty strong numbers in April vs. the County as a whole.
Condos: 122 for sale asking $315 per square foot (median price per square foot)
40 in escrow - $292 MPPSF based on asking price
98 sold YTD $295 MPPSF
32 of those closed in April at a median price of $344,950 MPPSF of $320
39 sold last April at a median price of $326,000 MPPSF of $307.
So prices up, volume down though the properties in escrow are likely to show a decline once closed, given the asking is $292 per square foot...unless they all sold over asking price, which I seriously doubt.
Redmond 98053 is not considered in the above stats.
Required Disclaimer: These stats NOT Compiled or Published by NWMLS and are hand calculated by ARDELL
ARDELL
DellaLoggia
On Seattle Real Estate including Kirkland, Bellevue, Redmond, Green Lake and most areas around Lake Washington North of Downtown Seattle.
Phone: 206-910-1000 - Mailto:Ardell@RainCityGuide.com
You can find many great Seattle real estate agents and loan officers on ActiveRain.com ARDELL DellaLoggia is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
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