January '08' King county home sales & inventory

                 January 2008 Market Snapshot

(DOM = Days on Market)

RULES OF THUMB:

Less then 6 months of Inventory= SELLERS Inventory
More then 6 months of Inventory= BUYERS Inventory

 

 

 King county homes sold. Comparitive numbers as in months worth of inventory are swinging back to a market in the middle. One that is favorable to both Buyers and Sellers.  The number of homes selling now as compared to last year is slightly less, although average selling prices are continuing to be healthy. However some area's have seen a reduction in average selling price over last year. 

Although home mortgages are still tougher to get then last year, you know, when you only needed a pulse to borrow a million dollars or so, banks are are making healthy adjustments to help insure we dont see the foreclosure and pre-foreclosure plague we are seeing today. More buyers are returning to the market and qualifying for home loans.