Pierce County, Washington
Single family residential (SFR) active listing and pending sales were up slightly from last week. The medium sale price of the unsold listings remained virtually unchanged. For the period ending 02/11/09, the medium price of sold listings was down 8.65% as compared to the same period last year. Please note that, due to late reporting of closed sales, the medium sale price of closed sales is usually a week behind.
Another interesting note is new SFR construction in Pierce County, homes built in 2008 and 2009, represents 16.2% of the active unsold listings and 13.5% of the listings with pending sales.
Whereas active condominium listings were up slightly and pending condominium sales were down slightly from last week. For the period ending 02/11/09, the medium price of sold condominium listings was up 15.5% as compared to the same period last year. We have seen positive increases in the medium sale price of condominiums, as compared to the previous year, since the first of the year. However, it’s still too early to speculate that the condo market has bottomed yet.
In contrast, new condo construction in Pierce County, units built in 2008 and 2009, represents 23.5% of the active unsold listings and 19.4% of the listings with pending sales.
Thurston County, Washington
New construction in Thurston County, homes built in 2008 and 2009, represents 28.3% of the active unsold listings and 29.0% of the listings with pending sales.
King County, Washington
In King County, new SFR construction, homes built in 2008 and 2009, represents 21.0% of the active unsold listings and 48.5% of the listings with pending sales.
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1 comment:
Thanks for the info, Ken. Let's hope the real estate market in the Puget Sound has hit the bottom and we're on the way back up. Spring will be here before we know it.
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