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Market Report for April 2011

May 30th, 2011 4:05 PM

Market Report for 4/01/2011 - 4/30/2011

Bank owned and short sales percentage of sold residential properties have increased considerably over this time last year. Somewhat similar compared to last month. Interest rates continue to be a mixed bag, and worth keeping an eye on. Today they have gone down a little. Remember, each 1% rise in interest reduces your purchasing power by approximately 10%. The active to pending ratio in Mason County is over 12-1, with 908 active residential properties to 72 pending sales. Not quite as good as last month. A good ratio is 5-1. The counties in this report show a 12% decrease in sales compared to the same month last year. Pricing in the market continues to slide and may not correct until the inventory of bank owned and short sale homes is reduced.

The interest rate makes a big difference in your Purchasing Power. For example, as interest rates change, with a monthly payment of $1200, you can purchase as follows:

4.75%
$230,040.47 (5/27/11)

5.00% $223,537.94

6.00% $200,149.94

7.00% $180,369.08

8.00% $163,540.19

9.00% $149,138.24

10.00% $136,740.98

11.00% $126,007.62

12.00% $116,661.10

Counties (Grays Harbor, Island, Jefferson, King, Kitsap, Lewis, Mason, Pierce, San Juan, Skagit, Snohomish, Thurston, Whatcom) in western WA

Residential sales: 12 % decrease 2011
3700

Bank owned: 29 %
1084

Short Sales: 9 %
342

(2010 Bank own 16% 673) 2010
4199

2009
2866

2008
3913

2007
5616

2006
6485

Market Report for each county: 3/01/2011 - 3/31/2011

Grays Harbor: 24% decrease
2011
55

Bank Owned: 38% of sales

21

Short Sales: 0% of sales
0

(2010 bank owned: 31%; 22)
2010

72

2009

49

2008

61

2007

77

Island County: 28% decrease
2011
67

Bank Owned: 31% of sales

21

Short sales: 10% of sales
7

(2010 bank owned: 17%; 16)
2010

93

2009

61

2008

70

2007

118

JeffersonCounty: 19% decrease
2011
21

Bank Owned: 19% of sales

4

Short sales: 5% of sales
1

(2010 bank owned: 4%; 1)
2010

26

2009

21

2008

31

2007

34

King county: 9% decrease
2011
1533

Bank Owned: 23% of sales

346

Short Sales: 10% of sales
153

(2010 bank owned: 11%; 193)
2010

1682

2009

1086

2008

1430

2007

2199

Kitsap County: 31% decrease
2011
166

Bank Owned: 30% of sales

49

Short sales: 8% of sales
14

(2010 bank owned: 17%; 42)
2010

241

2009
192

2008

226

2007

303

Lewis Conty: 6% increase
2011
51

Bank Owned: 39% of sales

20

Short Sales: 0% of sales
0

(2010 bank owned: 27%; 13)
2010

48

2009

43

2008

58

2007

73

Mason county: 11% increase 2011
59

Bank Owned: 46% of sales
27

Short Sales: 3% of sales
2

(2010 bank owned: 19%; 10) 2010
53

2009
48

2008
59

2007
82

Pierce County: 2% decrease 2011
719

Bank Owned: 38% of sales
273

Short Sales: 9% of sales
66

(2010 bank owned: 26%; 193) 2010
734

2009
535

2008
739

2007
1008

San Juan county: 20% decrease 2011
8

Bank Owned: 0% of sales
0

Short Sales: 0% of sales
0

(2010 bank owned: 10%; 1) 2010
10

2009
4

2008
9

2007
20

Skagit County: 20% decrease 2011
88

Bank Owned: 43% of sales
38

Short Sales: 6% of sales
5

(2010 bank owned: 16%; 18) 2010
110

2009
73

2008
110

2007
154

Snohomish County: 18% decrease 2011
586

Bank Owned: 36% of sales
209

Short Sales: 10% of sales
61

(2010 bank owned: 21%; 147) 2010
715

2009
436

2008
538

2007
995

Thurston County: 20% decrease 2011
195

Bank Owned: 28% of sales
54

Short Sales: 9% of sales
17

(2010 bank owned: 15%; 37) 2010
245

2009
184

2008
247

2007
346

Whatcom County: 11% decrease 2011
152

Bank Owned: 14% of sales
22

Short Sales: 9% of sales
14

(2010 bank owned: 12%; 20) 2010
170

2009
143

2008
180

2007
218

For Mason County

Residential Sales    38% decrease 2011
59

Bank Owned sales        46% of sales
27

Short Sales     3% of sales
2

2010
53

2009
48

2008
59

2007
82

2006
103

Vacant land sales 2011
12

2010
11

2009
10

2008
19

2007
49

2006
87

Maufactured Homes in parks 2011
1

2010
0

2009
1

2008
1

2007
0

Multi-Family 2011
1

2010
0

2009
0

2008
0

2007
1

Business Opportunities & Commercial 2011
0

2010
5

2009
2

2008
4

2007
12

*Information collected from the NWMLS system. Rules do not allow brokers to send out information in a broadcast form. If you want actual information on property please send a request to John and the information will be sent to you.

For a "Quick and Easy" search program for properties in Mason County -- Go here.

Posted by John Borgert on May 30th, 2011 4:05 PMPost a Comment (0)

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