Market Statistical Summary for January 2010
King County
King County Pending Sales were up, year over year, 91.6% to 1675 units from 874 in January of 2009
The average dollars per square foot index was down 1.6% to an average of $201/sq. ft
The average List to Sales Price Ratio was 96%
The Average Sales Price was down 0.4% from the prior year to $449,000
The Median Sales Price was down 1.3% to $375,000
Months of Inventory currently for sale based upon Closed Sales was down 37.2% from January of 2009 to 9.3 months
The monthly Absorption Rate based on Pended Sales is up 114.9% to a rate of 21.7%
Eastside
Eastside Pending Sales were up, year over year, 117.3% to 539 units from 248 in January of 2009
The average dollars per square foot index was down 5.9% to an average of $218/sq. ft
The average List to Sales Price Ratio was 95%
The Average Sales Price was down 3.2% from the prior year to $598,000
The Median Sales Price was down 5.3% to $500,000
Months of Inventory currently for sale based upon Closed Sales was down 47.6% from January of 2009 to 10 months
The monthly Absorption Rate based on Pended Sales is up 163.3% to a rate of 20.8%
Mercer Island
Mercer Island Pending Sales were up, year over year, 325% to 17 units from 4 in January of 2009
The average dollars per square foot index was up 12.6% to an average of $310/sq. ft
The average List to Sales Price Ratio was 91%
The Average Sales Price was up 6.7% from the prior year to $962,000
The Median Sales Price was down 19.7% to $735,000
Months of Inventory currently for sale based upon Closed Sales was down 23.7% from January of 2009 to 20 months
The monthly Absorption Rate based on Pended Sales is up 290.3% to a rate of 12.1%
Seattle Metro
Seattle Metro area Pending Sales were up, year over year, 61.1% to 501 units from 311 in January of 2009
The average dollars per square foot index was down 2.1% to an average of $229/sq. ft
The average List to Sales Price Ratio was 96%
The Average Sales Price was the same as the prior year at $464,000
The Median Sales Price was down 0.5% to $397,000
Months of Inventory currently for sale based upon Closed Sales was down 39.8% from January of 2009 to 6.5 months
The monthly Absorption Rate based on Pended Sales is up 75.4% to a rate of 24.9%
Definitions
Active Listings: All homes currently for sale but not yet sold.
Pending Sales: Homes under contract but not yet closed for that month.
Sold Listings: Homes sales closed in a given month.
$/SqFt: The price per square foot determined by dividing the sales price by the square footage of living space.
Average Sales Price: The average price of all homes sold that month.
Median Sales Price: The price that represents the mid-point of all homes sold that month where 50% of sales prices are above and 50% of sales prices are below.
List to Sale Price Ratio: Represents the comparison of sold price and list price of the homes sold (sold listings) as a percentage.
Months of Inventory: Represents the number of months of inventory on the market based upon the number of homes for sale (active listings) and the number of homes pended that month. For instance, if there are 1,000 active listings and 100 of them sold in a given month, it would take 10 months to sell the current inventory of homes for sale.
Rate of Absorption: Represents the percentage of the current active listings that are being absorbed (or pended) each month. For instance, if there are 1,000 active listings and 100 of them sold in a given month, the rate of absorption would be 10%. 10% of the market is being sold in that given month.






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