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Realtor helping clients who are Buying / Selling
Real Estate in Eastern
Washington &
Northern
Idaho. Licensed in Eastern Washington and Northern Idaho.
I specialize in
Luxury Homes,
Residential Acreage,
Farms,
Ranches (horse & cattle),
New Home Construction,
Waterfront and Investment
property.
Eastern Washington
And
Northern Idaho...
housing market? |
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Today's market is a buyer's market. Just putting a
property in the MLS, putting up a For Sale sign and putting it in the
local newspaper once in a while will not sell your property in this type
of market. As of 11 May 2008, there are 4,283 homes on the market in the
Spokane MLS (only 507 homes sold in Apr). Of
those homes active on the market there are 595 (33 on acreage) on the
market between $200,000 to $300,000, that were 3+ bedrooms, 2+ bathrooms,
2+ car attached garage, basement and master bathroom. Between $300,000 to
$400,000 there were 372 homes (70
on acreage). Between $400,000 to
$500,000 there were 218 homes (66 on acreage).
Between $500,000 to $1,000,000 there were
304 homes (139 on acreage). Over
$1,000,000 there were 43 homes (32
on acreage). These number don't count homes without a master bathroom,
basement, attached garage or manufactured homes. Your property needs to stand out from
the rest. It needs to appear where a buyer will see it. My marketing plan
takes out the "luck factor" in selling your home. By putting it in
the MLS, local newspaper and putting up a For Sale sign you are lucky if
your home sells in this competitive market. If you want to increase your
chances of selling your home, go back to the last page.
Click Here.
Number going up.
Number going down.
The only number you want to see in the RED
is the number of homes sold. All the rest you want to see in the
GREEN indicating the market is improving.
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376 closings in Mar represents 14% of the homes for sale in Jan &
Feb. During Jan & Feb if a home was on the market it had a 14%
chance of selling. There was a 86% chance it didn't sell.
277 fewer homes closed in Mar 08 compared to Mar 07 (376 vs 653)
168 fewer homes closed in Feb 08 compared to Feb 07 (293 vs 461)
285 fewer homes closed in Dec 07 compared Dec 06 (460 vs 745 =
285)
857 fewer homes closed in 07 compared to 06 (7792 vs 6935 = 857) |
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Notice the drop in price from Dec 2007 to Feb 2008. That represents
a -10.3% drop in average sales price
($219,869 to $197,110).
Appreciation for 2007 - 13.2%
Appreciation for 2006 - 9.6%
Appreciation for 2005 - 14.3%
Appreciation for 2004 - 17.4%
Appreciation for 2003 - 9.5%
Appreciation for 2002 - 7.4%
Appreciation for 2001 - 2.5%
Appreciation for 2000 - 3.1% |
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Half sell above this price and half sell below.
Notice the drop from Dec 2007 to Mar 2008 (-7.3%) |
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There were 3,004 active listings in Mar 08. 376 home closed in Mar
08. At that rate and if no other homes come on the market (which is
very unlikely) there is a 8 month inventory.
There were 456 more homes on the market in Jan 08 than in Jan
07.
There were 543 more homes on the market in Feb 08 than in Feb 07.
There were 670 more homes on the market in Mar 08 than in Mar 07. |
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Notice we peaked in 2005 for the number of closed sales and have
declined the last 2 years. |
For Idaho housing information
click here.
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