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Market Report for 8/01/2011 - 8/31/2011

23% increase in sales in this report

HUD, Bank owned and short sales continue to be a major factor in the housing market. In this 13 county report, the sold report shows that bank owned properties account for 26% of sales as compared to 17% last year. Short sales account for 8% of sold sales. Total percentage of bank owned and short sales is 34%. Interest rates continue to decline. Today the rates are down to 4.12%. Remember, each 1% rise in interest reduces your purchasing power by approximately 10%. The active to pending ratio in Mason County is over 13-1, with 911 active residential properties to 69 pending sales. Better than last month. A good ratio is 5-1. Pricing in the market continues to slide and may not correct until the inventory of bank owned and short sale homes is reduced, and this is going to take a while

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:

4.12%	$247,749.98 (9/9/11)
4.50%	$236,833.39
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: 34 % increase	2011	4340
Bank owned: 26 %		1142
Short Sales:  8 %		364
(2010 Bank own 17% 539)	2010	3244
	2009	3870
	2008	3169
	2007	6061
	2006	7575

Market Report for each county: 8/01/2011 - 8/31/2011

For Mason County

Total for all categories 27% increase	2011	63
	2010	53
	2009	67
	2008	80
	2007	147
	2006	220
Residential Sales    31% increase	2011	51
Bank Owned sales        39% of sales		20
Short Sales     4% of sales		2
	2010	39
	2009	56
	2008	64
	2007	93
	2006	137
Vacant land sales	2011	11
	2010	10
	2009	10
	2008	16
	2007	51
	2006	79
Maufactured Homes in parks	2011	0
	2010	4
	2009	1
	2008	0
	2007	1
Multi-Family	2011	0
	2010	0
	2009	0
	2008	0
	2007	1
Business Opportunities & Commercial	2011	1
	2010	0
	2009	0
	2008	0
	2007	0

*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.