Chris Loeliger
Windermere Real Estate/S.C.A., Inc
Chris Loeliger | Direct: 425-785-9217 | Email: cloeliger@windermere.com
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January 2011 Statistics
Posted on February 7, 2011
Wouldn't you know it. The latest numbers are out and now I'm the one that's late! Guilty as charged!
So what was in those numbers? Eh, it was a mixed bag with some good, some not so good numbers. Here's a rundown:
- NWMLS wide, there were 5393 pending sales reported. That's down 3.3% from the same period last year and up 23.7% percent from last month. Remember that last year at this time the market was being propped up by the tax credit. Being only 3.3% behind where we were last year is a minor victory. Compared to January 2009, we are up 23.9%
- NWMLS wide, there were 3207 closed sales. That's up 2.1% from the same period last year and down 27.6% from last month. I wish that number didn't drop so far from last month. But, I don't think it is a big surprise. Compared to January 2009 we are up 33.5%.
- NWMLS wide, the median price was $243,500. That's down 6.3% from last year and 4.5% from last month. Compared to January 2009 the median price is down 10.8%. The median price decline hurts. But, it's the least important of the statistics to me.
- Closer to my areas, in King County, the median price was $333,500. That's down 4.7% from last year and 2.6% from last month. Compared to January 2009 the median price is down 8.4%. Again, the median price decline hurts.
We can't compare the numbers from a January to the December before as the activity levels, prices, and everything else just don't match up. It just isn't fair. But, I do like to see where the trends are headed so I included the month before numbers here.
The only fair comparison is to the same period the year before and those numbers are there for you to see. However, last year is tough to compare against as the market was already being propped up by the home buyer tax credit at that time. So, I included the numbers from 2009 as a comparison as well.
None of the comparisons are perfect really.
The median price declines are disheartening. Truly. I am a homeowner so I hate to see that. But, as a Realtor I put more value in the activity levels of buyers and sellers right now. It speaks to the confidence and health of the market. The prices will follow. So, I like to see that the transaction levels are holding close to what they were last year and significantly higher than in 2009.
There are other items I like even more. I'll follow up with those next. In the meantime, let me know if you would like to see the numbers for your specific neighborhood or area.
Chris Loeliger
425.785.9217
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