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

July 2012 Edmonds Real Estate Market Conditions

If you’re considering selling you have to love pictures like this. After four years of having a real estate market with declining values in extended market times. The trend is reversing. In case the chart above is difficult to read here the important facts to consider. The number of homes on the market (52) has been steadily dropping while at the same time the salesĀ  (34) have been increasing and the homes pending (33) show a high demand for homes. We’re also seeing the cost per square foot increase as the inventory level drops to the lowest it has been in the last five years. Based on close sales we only have one and a half months of inventory. If you’re on the fence waiting for the bottom you might have missed it. Interest rates dropped to 3 1/2% and affordability index is the highest since the early 1990s. We are seeing multiple offers on most properties and prices escalating higher than the listed price, often by a substantial amount. If you are looking to buy or sell properties in the Edmonds or the surrounding communities this is a great time to do it.

July 2012 Edmonds Real Estate Market Conditions