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March 2012 Edmonds Real Estate Market Conditions

Inventory in Edmond continues to drop and price per SQ FT is
holding. During the last month the inventory has continued to drop and being in
a multiple offer situation is not a surprise anymore. The slight increase in
interest rates seems to have [%readmore%]motivated some buyers to start looking for a new
home. The projected forecast for economy for North King and South Snohomish
Counties is that by the end of the year we will starting seeing some slight
appreciation in home values. Last year 30% of sales were for all cash which
indicates that investors are also in the market now. The chart below show that
the inventory levels have continued to drop and compared to Feb 2011 we have
38% less inventory, the pending sales are up by 16.6% and the closed sales are
up 23%. I have also heard that the Shadow Inventory will slow down somewhat
because we are in an election year. That means that we will not have the banks marketing
their inventory as fast as in the recent past. The chart is based on homes
priced between $300,000 and $500,000 in zip codes 98020 & 98026.

new Market Watch Edmonds Wa


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