Ben Lunsford

LICENSE: 106324

(206) 719-6739

Ben Lunsford's Blog

Woodinville 1st Quarter Market Stats

Posted On: April 10th, 2017 6:26PM

Woodinville continues to be apart of a growing trend of lower inventory numbers but higher sales numbers. The average monthly inventory is down to just 43 homes per month which is a 29.5% decrease.  So far the number of sales is up 9 for the first quarter which is a 10% increase over the first quarter of 2016.

100 total sales, up 10% over 2016

Average Price: $854,233, up 13.2%

Average p/sqft: $300.24, up 12%

Add Comment

Lynnwood Home Sales 1st quarter 2017

Posted On: April 10th, 2017 6:12PM

Well, the trend of dropping inventory continues.  Over the first 4 months of this year the average monthly inventory is only 49 homes.  Despite this, there is an average of 57 homes selling each of the first 3 months.  How can you sell more homes than are available.  Well, I take the average inventory from looking at active listings on the first of each month (active only, not pending).  More homes are coming on the market each day, but more are going pending as well.  The sold homes are ACTUAL solds, not pendings.  So in most cases, those solds went pending the month prior.

Here’s the quick numbers with a comparison to 2016

Total Sales: 172, up 14% over the first quarter of last year

Average price: $470,900, up 9.2%

Average p/sqft: $240.69, up 9.5%

Add Comment

2016 Review - Woodinville

Posted On: March 10th, 2017 8:45PM

It was another fast moving year and the numbers are in.

Year on year in Woodinville 2016 saw an increase price, but that was about it.

Average price was up 14% to $754,620.  The average price per square foot was up 9.3% to $268.14.  Why is there a difference between average price and average p/sqft?  It just means that there were more bigger houses selling.  A big house has a higher overall price, but typically the p/sqft is lower than a smaller house.  If it remained equal or constant then you could find a 1300 sqft home in Woodinville for $348,000.  But, you can't.  Or conversely it would mean that since a smaller house is selling at $320/sqft then a 3000 sqft home will sell for $970K.  Unfortunately (for those home owners) it's not as cut and dry as that.  So, you will almost always see a discrepancy between average price and average p/sqft.

The number of sales was almost equal - only down by 1 for a total of 570 house sales in 2016.

The average monthly inventory was down 30.8% to 61/mo.  That's really low.  Especially considering the average number of sales was 47/mo.  That definitely indicates a seller's market still.

Add Comment

2016 Review - Kirkland

Posted On: March 10th, 2017 8:41PM

Like all the other areas, Kirkland saw increases in price and sales but decreases in inventory and average days on the market.  It is still a strong seller's market.

2016 increase over 2015:
Average price - 14.1% to $860,967
Average p/sqft - 9.6% to $350.05/sqft
Average sales per month - 7% to 104 sales/mo

2016 decreases over 2015:
Days on Market - 17.1% to 29 days
Average inventory - 25.7% to 110 homes for sale per month

Add Comment

2016 in Review - Kenmore

Posted On: February 13th, 2017 8:08PM

Kenmore continues the trend of higher sales, higher prices, and lower inventory.  Take a look at how 2016 compares to 2015 below:

Average number of sales up 7 (1.75%) to a total of 406 for 2016.
Average monthly inventory down 43% to just 34 homes a month for sale.
Average price is up 11.1% to $611,866.
Average price per sqft is up 12.9% to $256.30/sqft

Have I mentioned that we need more homes on the market for all the buyers out there?  Contact me today to find out how you can upsize or downsize and only move once!

Add Comment