King County Home Trends and Values for February 2012
King County Homes Trends and Values. Learn where the market is going, what is affecting King County Home Prices and why. Could it be the time to buy or sell your home?
A class on WA Real Estate Statistics where we dove into King County Real Estate Statistics and the market. How the market is being affected by Bank Owned Properties, Short Sales, the Economy, etc. and When did King County Real Estate Peak?
King County graphs and pictures used in this presentation:
King County WA Statistics and Trends Video:
Anton: Hey. What’s going on everyone? Anton Stetner here with the Real Estate Solutions Group. We’re here to talk about King County real estate statistics for February of 2012.
Hey, units for February 1,230 sold.
Focus people, focus.
Woman: There are going to be operator errors left and right. Okay. Carry on.
Anton: Okay. So before our operator error, units 1,230 sold. That’s up 18.5%. So just like in January, we’re seeing more properties selling. Year-to-date, we’re up 13.1% versus 2011. The average days on market was 84. It was down 4.7%. The average price in King County, $376,716. Now what does that really mean? It means that the average price from February versus February 2012 was still down 9%, and the average price year-to-date was down 9.2%.
What’s really interesting though, I didn’t write it up here. Months of inventory was 4.2. So once again, that’s putting us in a seller’s market. So in King County what’s happened basically here is inventory is decreasing, sales are up, and we’re feeling lots of upward price pressure for that under 400 product. Multiple offers on anything that’s really priced well. All of the bank owned traditional and new construction listings are selling fast, and what we’re seeing is that’s starting to force more buyers into short sales as they’re running out of inventory in other options.
Ladies and gentlemen, that’s King County real estate statistics. If you have any more questions, leave your thoughts and comments below, send us an email or give us a call, and we will chat with you later. Thanks a lot.
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