Sellers had an 15.6% chance of getting a home sold in West Redmond in February, 2008.
February, 2008 263 homes for sale, 41 sales, 15.6% chance of selling.
January, 2008 227 homes for sale, 36 sales, 15.8% chance of selling.
February, 2007 98 homes for sale, 57 sales, 58% chance of selling.
January 2007 107 homes for sale, 36 sales, 33.6% chance of selling.
Inventory continues to remain high, when compared to last year at this time. Inventory right now is still be below last year’s high of October. Our area continues to be one of the strongest on the Eastside, although we were outperformed slightly by the real estate activity on the Sammamish plateau.
It’s still a tougher real estate market for sellers, but there’s a more balanced market these days. However, as I have reported in my weekly posts, I’ve seen several listings sell just after they hit the market. These homes were priced well and showed beautifully when compared to the competition.
My mantra for 2008 ( I do repeat myself here):
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Sellers must have the best home out there for the money.
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Sellers must have the best marketing program to showcase their home.
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Sellers must be realistic and flexible with pricing.
- Interest rates are fabulous.
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Competition among buyers for homes will be less.
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Buyers have great choices, the best in years.
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Buyers will buy and homes will sell.
West Redmond Real Estate Buzz
