Edgewood, WA Real Estate Blog

a look at the market composition of organic versus short sales versus bank REOs (Real Estate Owned – foreclosures or deed in lieu of foreclosures)

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The number of listings offered as short sales has climbed dramatically since the onset of the financial/housing crisis.

Rather than settle for the anecdotal and second hand information, I decided to take a closer look at the activity over the past 6 months of short sale activity.

The results are interesting, especially for a buyer considering a short sale.

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Statistics for January 2009 for Edgewood and surrounding cities have just been updated.
Notwithstanding some of the recent comments of the usual real estate spokespeople, the market price levels continue to deteriorate.  Remember the data is not seasonally adjusted.  Never the less, the trend is pretty easy to discern.
Peak to trough median prices widened in Janary [...]

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Statistics for September 2008 for Edgewood and surrounding cities have just been updated.
Things appear to be changing a bit.  However, keep in mind the data is not seasonally adjusted (although you can see what was happening last year at this time).
Inventory seems to be coming down, at least for King County.  Prices continue to drift [...]

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Most areas show a marginal improvement in markets, at least from a seller’s perspective. Keep in mind closed sales are contracts that were written 45-60 days ago when the seasonal selling period typically peaks.
Federal Way (areas 100 and 110) and NE Tacoma (areas 94-95) are exceptions.
All areas ( based on inventory levels) [...]

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The numbers are interesting this month. As you would expect for this time of year, the number of listings is increasing for both King and Pierce Counties. Yet the number of absolute sales is decreasing. Buyers are holding back. Interestingly days on market for King county are drifting downward while they [...]

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Statistics for April 2008 for Edgewood and surrounding cities have just been updated.
Things are improving over March in all areas. Inventories remain high, however, in all areas. Interestingly, King County shows an uptick in overall inventory while Pierce County’s went down. Usually, you see the reverse.
All areas show a decline in median [...]

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According to a Wall Street Journal article this morning, Zillow has just released their t Q1 Home Value Report. It shows that “U.S. Home Values in the first quarter posted the largest decline in more than a decade, falling back to 2005 levels.”
Here’s what the Zillow report details year over year median Zestimate (Zillow’s [...]

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