Tri-Cities, Washington | Real Estate | Kenmore Team Monthly Market Update

Here is the Kenmore Team month end real estate market update for the month of April.

April 2009
Active Listings = 1228
Listings Sold = 191
Average Sold Price = $178,500
Listings Under Contract = 222
Average Days on the Market = 68

As compared to last month, our active listing inventory decreased slightly, our listings sold went from 178 homes sold in March to 191 homes sold in April and our listings under contract which will be our solds for next month went from 179 to 222. Our market, dare I say, is showing a slight recovery here in the beginning of Spring.

Here are some additional interesting facts about the market…

102 of the 191 listings sold were $150,000 and under, that’s 53%, more than half of the inventory sold was in the first time homebuyer market.
$150,000 – $200,000 = 20%
$200,000-$250,000 = 9%
$250,000-$300,000 = 8%
$300,000-$350,000 = 3%
$350,000-$400,000 = 4%
$400,000+ =3%

Lastly, of the total 1228 active listings on the market, only 261 of those listings are brand new construction, which is 21% of the active listing inventory, as compared to last year at this time it was 45% of our listing inventory.

So, what do all these numbers mean to you as a homeowner…

If you own a home in the $150,000 and under range and have considered moving up, right now is a phenomenal time to sell and with interest rates still at a record low, the ability to afford a newer home in a higher price range could make sense for you.

If you have any questions about the market or about buying or selling your home please feel free to contact us at anytime at (509) 727-8977. We look forward to hearing from you soon.

This entry was posted on Tuesday, May 12th, 2009 at 12:49 pm and is filed under Tri-Cites WA Real Estate Market Update. You can follow any responses to this entry through the RSS 2.0 feed.