Updated Renton Real Estate, Newcastle Real Estate & South Bellevue Real Estate Market Statistics (As of October 1st, 2008)

Posted Oct 1, 2008 @ 9:40 am, Viewed by 186 Visitors, Read 191 Times.

These numbers are based on a three month historical analysis that compares this week with last week.

MLS Area 500 (Newcastle, Bellevue South of I-90 & Issaquah South of I-90)
Single Family Homes
Average Days on Market: 103 Days (No change from 103 last period)
Inventory of Active Listings: 576 (Down from 579 last period)
Inventory of Sold & Pending Listings: 219 (Down from 223 last period)
73 listings are absorbed by demand each month on average. (Down from 74 last period)
12% of active listings are selling each month on average.
7.9 Months Worth of Supply (Up from 7.8 last period)
Average List Price: $896,502 (Up from $891,592 last period)
Average Sale Price: $644,644 (Down from $676,382 last period)
Median Sale Price: $570,000 (Down from $590,000 last period) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 500 for Single Family Homes: This area favors buyers over sellers based on the fact that there is a 7.9 month supply of homes. This means that if no additional homes were listed, it would take 7.9 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.
Condominiums
Average Days on Market: 90 Days (Up from 89 last period)
Inventory of Active Listings: 160 (Up from 159 Active Listings last period)
Inventory of Sold & Pending Listings: 55 (Down from 66 last period)
18 listings are absorbed by demand each month on average. (Down from 22 last period)
11% of active listings are selling each month on average.
8.8 Months Worth of Supply (Up from 7.2 last period)
Average List Price: $329,526 (Down from $331,097 last period)
Average Sale Price: $293,035 (Down from $297,633 last period)
Median Sale Price: $263,500 (Down from $268,000 last period) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 500 for Condominiums: This area favors buyers over sellers based on the fact that there is a 8.8 month supply of homes. This means that if no additional homes were listed, it would take 8.8 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.

MLS Area 350 (Northeast Renton / Renton Highlands, East Highlands, Briarwood) 
Single Family Homes
Average Days on Market: 108 Days (Up from 107 last period)
Inventory of Active Listings: 441 (Down from 446 last period)
Inventory of Sold & Pending Listings: 209 (Down from 215 last period)
70 listings are absorbed by demand each month on average. (Down from 72 last period)
15% of active listings are selling each month on average.
6.3 Months Worth of Supply (Up from 6.2 months last period)
Average List Price: $536,379 (Down from $540,690 last period)
Average Sale Price: $431,642 (Down from $436,419 last period)
Median Sale Price: $389,950 (Down from $390,000 last period) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 350 for Single Family Homes: This area is balanced between buyers and sellers based on the fact that there is a 6.3 month supply of homes. This means that if no additional homes were listed, it would take 6.3 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.
Condominiums
Average Days on Market: 97 Days (Up from 93 last period)
Inventory of Active Listings: 85 Active Listings (Down from 90 last period)
Inventory of Sold & Pending Listings: 40 (Down from 41 last period)
13 listings are absorbed by demand each month on average. (Down from 14 last period)
16% of active listings are selling each month on average.
6.5 Months Worth of Supply  (Up from 6.4 months last period)
Average List Price: $246,638 (Down from $247,992 last period)
Average Sale Price: $235,835 (Up from $228,890 last period)
Median Sale Price: $225,650 (Up from $218,900 last period) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 350 for Condominiums: This area is balanced between buyers and sellers based on the fact that there is a 6.5 month supply of homes. This means that if no additional homes were listed, it would take 6.5 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.
MLS Area 340 (Southeast Renton / Cascade, Tiffany Park, Talbot Hill, Benson Hill, Fairwood)
Single Family Homes
Average Days on Market: 110 Days (No change from 110 last period)
Inventory of Active Listings: 388 (Up from 387 last period)
Inventory of Sold & Pending Listings: 185 (Down from 188 last period)
62 listings are absorbed by demand each month on average. (Down from 63 last period)
16% of active listings are selling each month on average.
6.2 Months Worth of Supply (Up from 6.1 months worth of supply last period)
Average List Price: $426,631 (Down from $427,342 last period)
Average Sale Price: $378,189 (Down from $379,687 last period)
Median Sale Price: $356,000 (Down from $358,000 last period) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 340 for Single Family Homes: This area is balanced between buyers and sellers based on the fact that there is a 6.2 month supply of homes. This means that if no additional homes were listed, it would take 6.2 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.
Condominiums
Average Days on Market: 92 Days (No Change from 92 last period)
Inventory of Active Listings: 105 (Down from 106 active listings last period)
Inventory of Sold & Pending Listings: 60 (Up from 57 last period)
20 listings are absorbed by demand each month on average. (Up from 19 last period)
19% of active listings are selling each month on average.
5.3 Months Worth of Supply (Down from 5.6 last period)
Average List Price: $224,279 (Up from $224,193 last period)
Average Sale Price: $214,888 (Down from $217,493 last period)
Median Sale Price: $211,000 (Down from $213,500 last period) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 340 for Condominiums: This area is balanced between buyers and sellers based on the fact that there is a 5.3 month supply of condos. This means that if no additional condos were listed, it would take 5.3 months to absorb the current inventory. A market is considered balanced when the supply of condos is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.
If you are interested in statistical information for an MLS area not covered here, please respond to this post to let me know what neighborhood you live in and I will follow up with the statistics specific to your area of interest. You are also welcome to visit my website at www.CallSnyder.com where you can access my Market Snapshot research tool found on the left side of the homepage.
This information is deemed reliable but it is not guaranteed to be 100% accurate. I generated these statistics using the Northwest Multiple Listing Service. These statistics were not compiled or published by the Northwest Multiple Listing Service.  The analysis of each MLS Area is based on the market statistics but is the personal opinion of the author.
 

 

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