November Resale Home Inventory in Issaquah Drops Sharply

The housing market for Issaquah, Washington for the month of November shows some very encouraging signs of strength. Issaquah housing market November Resale Home Inventory in Issaquah Drops Sharply

As of the end of November 2011, there were 203 single family homes for sale in Issaquah. This compares to 250 at the same period last year. This represents a 19% decrease in the number of homes for sale. Additionally, new single family home listings for the month of November decreased from 72 in November 2010 to 45 in November 2011, a 38% decrease. And since there are now fewer homes on the market compared to the same period last year, the average days on the market for a single family home has also decreased from 86 days to 73, a 15% decrease.

Since there is now less than 5 months of single family homes for sale in Issaquah (see graph), the average selling price for a single family home has increased from $476,000 in November of 2010 to $496,000, a 4% increase in the price of a single family home. Additionally, the difference between what the home went on the market for and what it eventually sold for, has decreased as well. In November 2010, the average difference between selling and original list price was 92%. Today, the average list price to sold price difference is 95% in the Issaquah single family home market. In summary, the housing market for sellers of single family homes in Issaquah appears brighter at the end of November 2011 than it did at the same period of November 2010. Additional information regarding the Issaquah single family home market can be obtained by contacting a professional Issaquah real estate agent or broker.

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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