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Edmonds WA Real Estate Market Conditions December 2012

It has been intriguing how fast Edmonds has recovered from the problems the real estate industry has been through the last few years.
At present the inventory is still very much in short supply and at present we have less than two months of inventory remaining. Hypothetically, if nothing is listed the current inventory will be depleted just under two months. This of course is put pressure on prices and buyers are scrambling to get their first in order you have a shot at a newly listed home. The average sales price compared to listed price is currently running at 103% with the majority of the homes being sold for more than what the asking price was. Comparing the same three-month from 2011 to the same three months for 2012 shows that the average cost per square foot has risen from $166 in 2011 to $194 in 2012. That is an increase of 16.8% over that same period of time. That number is a little bit misleading due to the fact that the majority of the increase happened in the last six months. Which means it is accelerating faster than the 16.8% that is being reported.
If you are considering selling or buying a home in Edmonds WA at this time there are some strategies that you might want to consider utilizing. We have a lot of experience about how you can capture the most equity in your property. If you’re a buyer you need to get there fast or even before a property actually goes on the market. After almost 25 years we have a network of other agents that often give us a heads up on what’s coming up.
You can contact us at jim@northwestrealestate.com or just visit our website http://www.northwestrealestate.com . There you will find everything we can think of to meet all of your real estate needs.

Comments

  1. Tony says:

    As a bit of a real estate novice, I was curious to get some follow up on this. Is the market actually recovering, or is it just a blip in a much bigger, long term problem?

  2. Really a nice meter of this post.I read your post.Thanks for share your post with us.