Issaquah Housing and Real Estate Market Outlook for 2012

The Issaquah single-family home market continues to show improvement through November 2011 compared to the same period last November of 2010. Though the number of homes actually sold during the same twelve month period was almost the same (495 in 2011 vs. 514 in 2010) other indicators were up as the Northwest MLS and local Real Estate agents and Realtors reported.

Both the average days on market and the actual selling price vs. listing price improved from November 2010 to November 2011. In November of 2010, it tool an average of 86 days to sell a single-family home in Issaquah. Whereas in November of 2011, it took only 73 days, a 15% decrease in the number of days on market. In addition, the percentage of asking to selling price improved from 92% in November 2010 to 95% in 2011. It also appears that the available inventory of single family homes is tightening as well. At the end of November 2010, there were 250 single family homes for sale. However, at the end of November 2011, there were only 203, an eighteen percent decrease.  This has resulted in a decrease in inventory from a six month supply last year to a little over a four month supply this year.

Given continued lower mortgage interest rates and the continued lower supply and inventory of available single-family homes, the Issaquah single family home market in the coming year of 2012 looks to continue to improve.

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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