Well-Priced Homes Still Selling Quickly

by Coldwell Banker Evergreen Olympic Realty, Inc. on May 18, 2009

Affordability and interest rates are bringing buyers back to the market. They are acting quickly when they see value and steering clear of properties that arent quite there yet.

Every month we conduct an extensive study of every MLS home sale in Thurston County. Part of the study shows the pace of sales relative to how well-priced the homes were when they came on the market.

As with past studies, our most recent report for the first quarter of 2009 reveals that well priced homes (those that did not require a price reduction before selling) are selling near full price and in an average of just 49 days.

The homes that required at least one price reduction before selling required an average price reduction of 18.1% and were on market for an average of 209 days. These same homes are selling in just 29 days when they are reduced to their final asking price. This is a clear signal that buyers are still active but are just waiting to see value.

Click image to enlarge.

This holds true for all price ranges, as well. Even with sales in the upper-end off considerably from a year ago, homes in that price range are finding buyers in just 20 days of reaching the final asking price.

Statistics compiled by Coldwell Banker Evergreen Olympic Realty, Inc. from the NWMLS database. Statistics not compiled or published by NWMLS.

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