Redmond Real Estate Housing Statistics – 6/06/2007
By: Tony Meier – Eastside Realtor
The market has firmed up slightly this week. With the total volume averaging 14.11 weeks of inventory (which is down again from last week) the market remain robust. The hotest range is still $400,000 to $499,999 and the coolest part of the market is $1,750,000 to $2,249,999 which has shown no sales in the last 7 weeks.
When looking at this speadsheet keep this in mind…
The following is generally accepted as to the state of the market –
1. Less than 18 weeks of inventory = Seller’s Market
2. About 18 to 22 weeks of inventory = Balanced Market
3. More than 22 weeks of inventory = Buyer’s Market
So if you study the table below… You will see price ranges that have sellers in firm control and others that have the buyer in control. This information puts my clients in the drivers seat when it comes to correctly pricing their home to sell or knowing what to offer for the dream home!
Below is a the statistics for last 7 weeks ending on 6/6/2007…
|Price Range||Active Avg||Pending Avg||Weeks Avg|
Armed with this information we can then dig deeper to see what is happening in a particular neighborhood, then make a highly educated decision. It is important to me that my clients know what to do but also the ‘why" behind it!
I track these statistics for all of the Eastside and Seattle. If you would like to know the absorbtions rates in your area, call or email me.