Woodinville Home Sales Gain Traction – May 2009
Woodinville saw a sharp increase in the number of sold properties in May as compared to April: 27 properties sold in May as opposed to 12 in April. This is good news, as Woodinville has been experiencing quite a “funk” over the last several months:
WOODINVILLE SOLD PROPERTIES IN WOODINVILLE
Click on the graph for a larger view
AVERAGE WOODINVILLE PRICES
Click on the graph for a larger view
It’s clear that buyers in Woodinville have been taking advantange of the lower priced properties. This may be due, in large part, to the low interest rates, the $8000 tax credit and falling prices.
It’s not all rosy for the Woodinville market. I took a quick look at the current inventory of properties in Woodinville and found that there are a LOT of properties on the market:
There are currently 383 homes/condos for sale in Woodinville. Frankly, that’s a lot of properties. Also consider that the market is only selling off about 7% of the inventory (my down-and-dirty absorption rate calculation). It will be interesting to see how the sales roll out in June due to a healthy number of current pending properties:
Recently, the local Multiple Listing Service and some local real estate “gurus” have been encouraged by the rise in pending sales. As a cautious observer of these numbers, I believe that it’s better for buyers and sellers to focus on closed sales. Pending sales have not been sure-fire sales as in years past. Several of my colleagues in the Title and Escrow industries tell me that a significant number of pending sales are failing due to the volatility in the economy, short-sales and other reasons.
Nevertheless, the increase in home sale activity in Woodinville is great news. If you ever have questons regarding the real estate market or need the services of a Realtor®, please don’t hesitate to contact me:
Associate Broker
Keller Williams Greater Seattle
206.713.2102
www.kenmoreundressed.com
