King County Real Estate Home Values and Trends for January 2012 [Video]

King County Home Trends and Values.  Learn where the market is  going, what is affecting King County Home Prices and why.

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:

Transcript:

Hey, what’s going on everyone? This is Anton Stetner with the Real Estate Solutions Group. I am here to deliver to you guys what’s been going on in King County real estate statistics for January 2012. I am going to provide these to you guys all the time.

Here’s basically what we’re seeing. Sales, they’re up 7.1% versus the same time in 2011. It’s very exciting. We’ve been seeing upward pressure building inside of the market. The average price, down 9.1% versus 2011. Now, that’s the average price when I compare 2012 to 2011, last year. Even though it’s still down 9.1%, that’s actually better than we were doing in December and better than the month before that. In other words, as we continue down that curve, it’s started to lessen its decline. We are depreciating slower, a/k/a nearing the bottom, hopefully.

The median price is down 11.5% versus 2011. Once again, same idea. You’re seeing that median price curve coming down, and you’re seeing it slow down its rate of depreciation.

What’s also really interesting is your months of inventory is down to 4.9. Here in King County, basically months of inventory peaked in June of 2010, and ever since then we’ve been seeing a steady decline since then, just boom, boom, boom. Months of inventory can be thought of as, right now there are 4.9 sellers for every one buyer.

One of the ways to look at months of inventory, too, is as we scoot below six, remember that is scooting into what we call a seller’s market. We’re definitely seeing that, especially in the lower price brackets, especially in the tight I-5, 405, and I-90 corridors where those tight population bases happen. You’re starting to see in Bellevue, in Issaquah, in Seattle, Redmond, Kirkland, in those types of areas that under 400, just multiple offers moving fast. Now, as you get in the outlying, more remote, more rural areas of King County, the prices are still kind of more beat up out in those areas.

Anyway, that’s what’s been going on in King County real estate statistics. Leave me your thoughts and comments below. We’ll update you more as we go. Thank you.

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