Thursday, January 7, 2016
2015 Housing Recap
Not surprisingly, listing activity dropped, in part because some sellers are balking at listing their home for fear of not finding a replacement.
The price of a single family home (excluding condos) that sold in King County during December jumped nearly 15.5 percent, from $440,000 to $508,000,
Area-wide there was just under 1.8 months of supply, with four-to-six months generally considered to be a “balanced” level. In King County, inventory dropped to less than one month (0.84). MLS figures show active listings in King County were down 39 percent (about 1,400 fewer properties) from 12 months ago.
Condo prices increased about 6.7 percent, from $239,000 to $255,000. In King County, which accounted for about 55 percent of the sales, the median sales price was $279,975. That’s up about 7.7 percent from a year ago.
Forecasts for 2016 all look strong for Sellers looking to cash in on their equity. For a free online evaluation of the value of your property in today's market, please send a private message to HomeLandInvestment@gmail.com with your name, contact information and property address.
Happy New Year!