Market Reports

The Skinny on Maple Valley Homes for Sale | A Seller’s Market?

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The Skinny on Maple Valley Homes for Sale | A Seller’s Market?

The skinny on available homes for sale in Maple Valley (and outlying areas served by the Tahoma School District) is just that….skinny! Currently there are only 75 single family homes actively listed for sale through NWMLS. Eliminate new construction (which often includes  pre-sale inventory ) and you’re down to 54. Far greater than slim-pickins…this is flat out SKINNY pickins! Going back 12 months,  Inventory peaked in August (not unusual as this typically is a slower time of year for sales) however it’s obvious March is the lowest point over this time period. Let’s go back even more…. Again, highest peak was August but more than 3x the inventory we have available today. So what’s a buyer hoping to land the elusive Maple Valley home for sale? Here are some tips: Be prepared to move quickly. And I mean QUICKLY! It’s helpful to work with a Buyer’s Agent who specializes only in working with buyers. (Like our wonderful team member Patty!) An experienced Buyer’s agent has systems in place to notify you as soon as properties become available. Forget trying to “get a deal”. Those days are done. Today’s “great deal” is being the winner in a multiple offer situation. Put

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2013 Market Out of the Gates And….

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2013 Market Out of the Gates And….

With two full months of closed sales behind us, here’s what the data is telling us about Single Family Home sales within the Tahoma School District for 2013 compared to the same time period (Jan/Feb) of 2102. Overall, the number of closed sales is about the same: 83 in 2012 and 81 this year With a slightly higher average sales price and an uptick in the median price: 2012 Avg Sales Price, $260,000 vs. 2013 $283,000 and a rise in median price  from $257,235 last year to $273,490,  one can surmise prices are rising….not surprising given low inventory. What will be interesting is to see whether the price uptick will continue when Spring Inventory increases. A pleasant swing in the number of Foreclosed sales vs closed Short sales is hopefully indicative of more distressed home owners reaching out for alternatives and more brokers becoming proficient with the process. In the first two months of 2012 there were 25 Bank Owned Sales closed and 12 Short Sales. This year, those numbers are almost reversed: 23 closed Short Sales and 10 closed Bank Owned. Turning the corner into the Spring Market, here are the questions: What will interest rates do? How will

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Maple Valley Distressed Home Market Report | Foreclosure & Short Sales 2012

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Maple Valley Distressed Home Market Report | Foreclosure & Short Sales 2012

While the year is not quite finished, (2 more recording days at the County), I think we have a decent representative sample of closed sales here in the Tahoma School district to make a call regarding distressed home sales activity. Year to date (this post being written on December 27), there have been 106 single family Bank or Asset Company owned sales closed. This represents a 41% increase in Bank owned homes over the same time period in 2010. Short sales (properties where the owner controls the sale and marketing but the bank must approve the “less than owed” price) numbered 121 this year, compared to 61 in the same time period of 2010….just a chin hair shy of a 100% increase in two years. The jump in short sale closings is a good sign in my opinion. It is indicative of sellers looking for alternatives to foreclosure, agents  and buyers getting more savvy to the negotiation process and banks recognizing the need for organized, streamlined processes. However given the drop in prices from our peak in 2006, the steep equity loss will continue to drive the distressed market here and throughout South King County…most likely for several years to

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Cherokee Bay Sold Homes Report

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Cherokee Bay Sold Homes Report

Homes Sales in Cherokee Bay over the past 120 days, like much of the Maple Valley real estate market, were skinny in number. This is primarily due to 2 factors. General lack of inventory and the lengthy escrow time required of Short Sales. There were 10 single family homes sold and closed within the last 4 months in Cherokee Bay. The highest priced listing sold was $222, 800 and the lowest priced sale was $135,000. Of interesting note, is the average days on market…just 19. Here are the sales with more detail: Search for your new home in Maple Valley here or find out what your Cherokee Bay property, or Maple Valley home is worth online, FREE, here.  

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Maple Valley Real Estate Trends | October 2012

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Maple Valley Real Estate Trends | October 2012

Year to date home sales numbers and trends for single family homes in Maple Valley, WA

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Cherokee Bay Semi-Annual Market Report 2012

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Cherokee Bay Semi-Annual Market Report 2012

Sales for the first half of 2012 in the Cherokee Bay Community totaled 27. The lowest priced property sold was $130,000 and the highest priced  to close was $274,000. On average, these homes were on the market for 52 days. Compared to the same time perior in 2011, only 17 single family homes had closed, with an average market time of 44 days. The average sales price was $191,759 in 2011 vs. $179,304 in 2012. This lowered value is most likely due to 59% of all closed sales this year being Bank Owned properties acquired through  foreclosure. You can learn the value of your Maple Valley Home here

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New Construction Activity in Maple Valley | Tahoma Schools

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New Construction Activity in Maple Valley | Tahoma Schools

While you might think the nicest thing about buying New Construction is just that…it’s being brand new, many home buyers today are finding what they like most about buying new is the ability to get an answer in a reasonable timeframe combined with the option of other lots if there’s competition from other buyers. In other words, no short sale uncertainty or frenzied competition found in foreclosure type sales. Here in the Tahoma School District, there are currently 47 active New Construction listings ranging in price from $249,950 to $579, 950. Many of these listings are pre-sales which means the construction has not yet started. competition 34 Single Family New Homes are currently in Escrow pending closing and within the last 180 days, there have been 11 new homes closed. (Notice the lag in pending numbers due to presales). The closed homes range from a low of $264,950 to a high of $377,450. You can search all New Construction in the Tahoma School District here Or search all homes currently available in Tahoma District here

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Spring Home Sales are Going Strong!

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Spring Home Sales are Going Strong!

  You could say the Spring real estate market here in Maple Valley (and throughout South King County for that matter) sprung early this year. NWMLS statistics published earlier this month indicated homes sales for February, year over year, were up 27% Here in Maple Valley we’re doing even better! From January 1st through today, there have ben 114 single family homes closed in the Tahoma School District. Compared to the same period last year, when that number was 85. That’s a 34% increase in home sales! Ok, how about prices you ask? That’s a horse of another color so to speak. The average sales price in 2011 (for the dates above) was $307,892. Median Price was $290,000. For this year, we’re sitting at an average sales price of $261,817 and a Median Price of $256,118. That’s a dip in average sales price of appx 14.9%. Will the sudden increase in sales numbers stabilize our pricing and perhaps even push prices higher this year?  It will be interesting to watch and see….and in the meantime, help alot of home sellers and buyers in the area!

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All information is current as of published date. Listings for sale or rent, are avaialable as of the date published, however price and availability are subject to change.