Tuesday, December 14, 2010
November Insider Local Real Estate Report, by Redfin
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 Of the homes withdrawn from the market, only 40% of them sold while the remaining 60% de-listed to wait out the winter.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