Windermere North | Direct: 206-949-8895 | Email: jim@northwestrealestate.com

Edmonds WA Real Estate Market Conditions October 2012

This report is based on the price range from $300,000 to $550,000
There is still high pressure on the amount of inventory that is available. At present the months of inventory based on close sales is just slightly less than two months. The average days on market compared to last year at this time is down 27%. The chart below that since January the average cost per square foot is been steadily increasing from $150 per square foot $180 per square foot in September.
As we reach the end of the year and the holidays new listings will slow down somewhat. There’ll still be strong buyer’s activity until the middle of December. Today the numbers were just released showing the inflation level was slightly higher than what they hope for. The fact that this will have as it will push interest rates up just a little. There’s been a lot more new home construction this year than over the last few years. Families that had been hoping to buy a new home are taking advantage of that. Most builders have little or no standing inventory to be able to show what their homes will look like when finished. We are also starting to see quite a few price increases now. This is a strong market if you need to buy and sell a home simply because you can plan on everything coming together in a reasonable period of time. If you have any questions on the local market or what your home is worth contact Jim@northwestrealestate.com

Edmonds Cost per Square Foot October 2012