Is Issaquah Entering a Home Sellers Market?

TGChartImage 11 1024x853 Is Issaquah Entering a Home Sellers Market?

Both home buyers and sellers, along with real estate agents and brokers are all asking the same question, is the Issaquah real estate market entering a sellers market?

The graph above shows single family homes for sale, sold and pending. As of April 2012, the sold plus pending totaled 172. This is the highest number in over four years. In addition, as the graph indicates, the number of homes for sale is at it's lowest level in many years. Such a situation would indicate the beginnings of a sellers market. However, also as the chart above indicates, the number of homes for sale during the Spring and Summer months in the Issaquah real estate market, typically does increase. This home inventory increase may or may not affect the balance between a buyers and sellers market.

Most real estate agents and experts agree, that a home buyers market is defined as one where there is less than four to five months of inventory available for sale. Currently, in the Issaquah single family home market, there is three months of inventory. This lack of inventory would indicate a sellers market. However, as mentioned above, the inventory could increase due to an increase in current homeowners placing their homes onto the market and/or banks placing additional properties on the market. This increase in inventory could possibly cause a change from a sellers market to a more balanced market - as defined by a market with four to five months of inventory.

About

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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