5 Year History - Issaquah Single Family and Condo Inventory

This is Part II of the series and includes information regarding Issaquah "for sale" Single Family and Condo Inventory.

The graph below (*) includes both for-sale single family homes and condo/townhome inventory for the Issaquah. Washington real estate market.

Issaquah housing inventory 5 Year History   Issaquah Single Family and Condo Inventory

 

The orange line represents single family homes for-sale while the black line represents condos and townhomes for-sale. Please note the "wave" effect is due to homes being taken off the market during the winter months of October through February of each year. Generally, approximately 20-30% of the for-sale single family homes are taken off of the market for the winter months.

For single family homes, the highest inventory of about 450 homes was during the Summer of 2009 while the lowest for-sale quantity of 175 homes was in the Summer of 2006 (note, however, that our statistical information only goes back to 2006.) Current inventory is about 300 homes for sale - which represents a 33% decrease in inventory from the high in 2009. As a matter of optimism, the current inventory of for-sale single family homes is only 20% higher than the sellers-market period of 2006. Put a different way, there are only about 60 for-sale homes more than the same period in 2006.

For condos and townhomes, the highest for-sale inventory was in the Summer of 2009 at about 290, while the lowest inventory was during the winter months of this year at about 185 units. Current inventory is about 215 units - which is the lowest for-sale inventory since the winter of 2007 (note, however, that our statistical information goes back only until November of 2007.)

Using the information from the prior post on this blog concerning the current prices of single family homes and condos in Issaquah, and the continuing decrease in the availability of for-sale inventory of housing stock in the Issaquah real estate market, it is reasonable to assume that the increase of housing stock and the decrease in pricing has generally ended in the Issaquah real estate market.

Note, however, that in any real estate market, there are forces which cannot always be readily seen or documented - a "shadow" inventory of housing stock (**) , the construction of new housing stock and unforeseen local, regional or national events that may impact the local real estate market. Though given the current information and statistical data, it appears that the Issaquah real estate market has turned a corner and is headed into a more balanced market - equal number of buyers and sellers.

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(*) The graph and data for the graph is the property of Altos Research LLC. For additional information regarding Altos, please refer to their website. The statistical information used here is for current and future trend analysis only and may not agree with other statistical data from other sources.

(**) A future blog post will discuss the issue of a "shadow" inventory of housing stock.

About

Danny Evatt, REALTORĀ® is a Real Estate Agent with Coldwell Banker Danforth, serving the communities of Issaquah, Sammamish, Snoqualmie, North Bend & Fall City.

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