The number of homes Sold in these combined areas for November dropped below the running average for the last 6 months but were in line with seasonal sales expectations. Prices however; saw huge jumps from October levels for each of the categories tracked: The Average initial asking prices for those that Sold were up over 50%. The average price at which an offer was accepted and the average actual selling prices were up ~ 47% and 48% respectively, and the median selling price was up 45%! So while the number of homes that Sold were down compared with October and compared with the running 6 month average, the prices for those that did Sell were up significantly indicating sales oriented toward the higher end of the market dominated for November. Further, there was a marked decreased in the number of distressed properties sold.
Here’s the actual data which is also shown on the graph:
The average selling price for November was $414,546, which is $135,241 more than October! Further, the median selling price of $394,750 was up $122,400 from the October median sales price!
Distressed property sales during October only accounted for 1 of the 12 properties sold (8%)! This is a great improvement from the 25% percent for October and November of 2011.
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By Briana Wilson
Reviewed by Brian Wilson, Broker
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370