Thursday, July 20, 2006


June is always an interesting month in real estate. Closings are high as a result of the busy spring market. But, sales activity slows due to the many celebrations that take place. Starting with Memorial Day and continuing with Father's Day, graduations, end of the school year activities and weddings. We are all just busy in June!

June sales statistics for King County are interesting because the numbers are not what we usually expect. An increase in inventory usually results in longer market times, but that didn't happen this year. June's inventory is up 17% over June last year with 8,011 active listings in 2006 compared to 6,857 in 2005. However, market times remained relatively unchanged during the same time period. The average days on the market is 37 in 2006 and 36 in 2005.

Usually an increased inventory means a softening of prices, but this hasn't happened in King County either. The average sales price this June is 15% higher than June 2005.

Snohomish County is experiencing the same phenomenon as King County. Inventory is up 23% from June a year ago, but market times remain unchanged at 42 days compared to 41 days. The average sales prices have also increased by 15%.

What does all this mean?

Buyers have more homes to choose from and can be more discriminating when choosing a home. They will look more closely at condition than they did a year ago and won't be willing to accept a home that needs a lot of updating.

Sellers will need to build in more market time into their plans while keeping an eye on an appreciating market. Pricing will be key, but so will condition. Sellers will want to get that "Honey Do" list completed prior to putting a sign in the yard.

I am an Accredited Buyer Representative (ABR) and a Certified Residential Specialist (CRS). These two designations are the top in our industry. These along with my years of experience make me your perfect choice in a Realtor!

Statistics compiled by the Northwest Multiple Listing Service and are deemed accurate but not warranted.
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