Normally we post our weekly market update on Mondays, but the snow yesterday threw me off schedule. Real Estate activity for the greater Maple Valley area (including all single family homes listed and sold within the Tahoma School District) for the week 11.15.2010-11.22-2010. Ready to buy ? Search Listings within Tahoma School District here Search Short Sale Homes within Tahoma School District here Search Bank Owned Homes within Tahoma School District here
Market activity for single family homes within the Tahoma School district and greater Maple Valley WA market area. Information as of 9/27/10. There have been 12 new listings come on the market, 13 homes change to “Pending” status and 6 sales closed within the last 7 days.
Maple Valley WA Single Family home sales and market information as of 9/20/10. This graph demonstrates the number of Active listings within the Tahoma School District boundaries compared to those in Escrow (Pending) and those closed within the last 7 days.
Maple Valley WA Single Family home sales and market information as of 9/13/10. This graph demonstrates the number of active listings within the Tahoma School District boundaries compared to those in Escrow (Pending) and those closed within the last 7 days.
Inventory of homes for sale in the Tahoma School School district seems to be following the national decreasing trend. As fewer sellers opt to list at reduced market values, and short sales and foreclosures are slowly absorbed, our active inventory has dropped to right about the 300 unit range (Single family residential). The highest priced property is $3,375,000 and the lowest is $99,900. Average days on market for these listings is 103 days. Properties currently in Escrow…those awaiting short sale approval or financing and inspections number 136. In the last six months, 212 homes have closed escrow with the lowest priced sale at $90,000 and the highest priced sale $875,000. The average market times for properties SOLD is 66 days.
There have been 24 Single family homes sold in Maple Valley for the month of April. The lowest priced home sold was $184,000 and the highest price was $875,000. The median sales price for all homes sold was $295,975 and the average days on market for these listings was 85 days. Maple Valley Homes Sold Year to Date There have been 118 Single family homes sold in Maple Valley so far this year through April 30th*. The lowest priced home sold was $110,800 and the highest price was $875,000. The median sales price for all homes sold was $290,500 and the average days on market for these listings was 73 days. *Represents single family homes listed through NWMLS only and does not reflect private party sales.
The Maple Valley real estate market for this year as compared to the same timeframe in ’09 shows a decline in average sales price by approximately 6 percent; $$328,204 average sales price first quarter of ’09 compared to $$308,876 for the first quarter of 2010. The median sales price also dropped from $300,000 last year to $289,000. The drop in both can not only be attributed to short sale and REO properties but to a lack of movement in the over $500,000 price range. In fact, there have only been 6 homes within the Tahoma School District boundaries, priced over $500,000 which have closed this year. Currently there are 276 homes available for sale in Maple Valley. The average asking price is $397,868. The high list price is $3,375,000 and the low is $99,900. Pending sales number 143 (those waiting the close of Escrow). Average list price of pending properties is $305,742-significantly lower than the Active average list price which demonstrates first time home buyers, are the predominate buyer in this market. I will continue to watch our pricing trends now that the first time home buyer tax credit has expired. If buyers begin to show lack of interest, short
It’s Monday, so that means market udpates! These are homes currently listed and sold within the last 6 months through NWMLS. These numbers do not reflect private party sales. Here is a snapshot of REO or Bank-owned homes in the Maple Valley area: Active Listings: 10 Average List Price $340,693 Average Days on Market: 27 High: $775,030 Low: $199,900 Pending Sales: 11 Average List Price: $277,523 Avg Days on Market: 38 High: $369,900 Low: $124,900 SOLD Listings: 32 Average List Price: $274,884 Avg Days on Market: 42 High: $660,000 Low: $274,884 You’ll notice the short number of days these properties remain on the market. Indicative of the aggressive price most asset managers are placing on these properties. They don’t want inventory on the books and are pricing these homes to move quickly!
