Tuesday, December 14, 2010

November Insider Local Real Estate Report, by Redfin

Redfin is delivering our holiday bag of agent insights and proprietary numbers on what’s going on with the Seattle and Eastside area market.

There are a few lumps of coal in there: November sales volume is down for King County by 22.3%, and inventory is continuing to be pulled off the market for winter at a quick pace. Of the homes withdrawn from the market, only 40% of them sold while the remaining 60% de-listed to wait out the winter.

On the bright side, at least if you’re a home-seller: prices dropped by only 2.6%. The median price of homes is holding pretty steady at a time when most of the rest of the country is down. Interest rates are starting to rise and home-buyers are getting antsy.

Once again inventory is down across the board. Unfortunately, this doesn’t mean that homes have been selling, it’s because 60% of the homes no longer for sale were pulled off the market to wait out the winter

Read  Redmond and Kirkland November housing statistics


By Michelle Broderick
Marketing Director
Redfin Blog

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