Balanced Real Estate Market in Issaquah - September 2011

The Issaquah months of inventory of new and used single family homes and condominiums for September 2011 shows a balanced market for single family homes and a slight buyers market for condominiums. According to most real estate agents, a balanced market for real estate is a five to six month supply of real estate for sale. A real estate supply of over six months is considered a buyers market, while an under five month supply is considered a sellers market.

In a sellers market the seller can usually set the price, do minimal staging and the house will usually sell as there is very little inventory for buyers.  In a neutral or balanced market the seller and their real estate agent will need to study other similar for sale properties for proper pricing and (considering the age and current condition of the property) perform minimal staging.  In the buyers market the seller may need to price aggressively and offer buyer incentives such as home warranties as well as perform higher levels of staging and updating.

The graph below shows the supply inventory for Issaquah new and used single family homes. The time period spans seven years (by quarter) from September 2004 to September 2011. The lowest months of inventory of single family homes for sale was during the July through September 2005 quarter with less than a two months supply - definitely a sellers market.  The highest months of single family homes for sale was in the January through March 2009 quarter with a fourteen to fifteen month supply - a buyers market.Issaquah Home Inventory2 Balanced Real Estate Market in Issaquah   September 2011As of September 2011, there is a six month supply of single family homes in Issaquah - which is considered a balanced or neutral market (neither a buyers or sellers market.)

The graph below shows supply inventory for new and used Issaquah condominiums. The time period spans seven years (by quarter) from September 2004 to September 2011. The lowest months of inventory of condos was during the July through September 2005 quarter with less than a two months supply - definitely a sellers market.  The highest months of single family homes for sale was in the October through December 2010 quarter with a fourteen to sixteen month supply - a buyers market.

Issaquah Condo Inventory Balanced Real Estate Market in Issaquah   September 2011As of September 2011, there is a six and one-half month supply of condos in Issaquah - which is considered a very slight buyers market.

For comparison, according to the National Association of  Realtors, total existing-home inventory fell 3.0 percent by the end of August to 3.58 million units. At the current sales pace that represents an 8.5-month supply, down from a 9.5-month supply the previous month for the entire United States. This inventory includes both single family homes, condominiums and townhomes. And according to the U.S. Department of Housing and Urban Development, new home inventory stood at 6.6 months at August 2011.

So at the end of September 2011, the single family home market in Issaquah can be considered by real estate agents neither a buyers or sellers market, while the condo market can be considered a slight buyers market.

 

Danny Evatt is a REALTOR® and Broker with Windermere Issaquah, serving the communities of Issaquah, Sammamish and Snoqualmie; the statements and opinions expressed herein are his own.

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

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