I can get lost in stats. They aren't much fun and they really are boring to write about but they still fascinate me. I can spend hours doing different types of searches on the NWMLS (NorthWest Mulitple Listing Service) site that us agents use to track and compare homes in the area. I search by price, by square footage, by area and find it fascinating to compare years or areas.
In our area of Bremerton we have seen some huge changes in price over the last couple of years. Yes, Bremerton home owners have lost a significant amount of equity and in some circumstances we probably have neighbors that owe more on their home than what they can sell it for. Of course this is a cycle and as cycles go we haven't been hit as hard as other areas of the country. Some statisticians have said there will be areas of the housing market that will totally recover by 2014 and some not until 2034.
I think those areas that hit the ultimate highs will have a longer recovery period. In the Bremerton area we of course had some good years but remain an area that has solid employment and where home-ownership still was reachable by the younger generation. In some areas of King County a first-time home-buyer price was in the high $300,000's.
I have sold several homes to first-time home-buyers this year who qualified for the $8,000 first-time home-buyer tax credit.
According to the Puget Sound Business Journal on September 17th, the Internal Revenue Service reports that 26,000 residents of Washington state have taken advantage of the $8,000 first-time homebuyer’s credit offered by the federal government.
Here are some stats - just because
Bremerton Homes Sold August and September 2009
Average List Price: $227,490
Average Sales Price: $221,220
The average square footage of the property was 1756 and the average Days on Market - or the amount of time it took to sell the property was 123
Bremerton Homes Sold August and September 2008
Average List Price: $256,277
Average Sales Price: $250,570
The average square footage of the property was 1733 and the average Days on Market was 126
Bremerton Homes Sold August and September 2007
Average List Price: $278,129
Average Sales Price: $277,099
The average square footage of the property was 1760 and the average Days on Market was 78
Bremerton Homes Sold August and September 2006
Average List Price: $277,908
Average Sales Price: $277,099
The average square footage of the property was 1812 and the average Days on Market was 67
Author:Jo Soss
Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.
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Hi Jo, I enjoyed reading your post. I too am fascinated with sales statistics in my area. I like doing different types of searches to see how things compare, what's selling, average price, days on market, etc. I think it helps to be knowledgeable about what's going on in your market area.