Windermere Real Estate, East  has just released their interpretation of March's Real Estate sales figures.  This evaluation shows that our local Real Estate market is becoming more balanced, balance being considered a market with home selling in an average of six months.  This is measured by the absorption rate, figured by calculating how many home sales close in the month, compared to homes available on the market.  4 closings per month, with 24 active listings = 6 months of inventory and what is considered a balanced market.

Half of the NWMLS areas in King and Snohomish County had less than six months' supply of homes.  While only 5 areas were Balanced in February, that number rose to 17 areas in March. 

NWMLS areas 705, 710 and 715 are even moving towards a Buyer's market, with homes spending an average of less than 3 months on the market before selling.  These areas cover Seattle neighborhoods North of the Ship Canal to NE 145th and from 145th to the King/Snohomish County line (only west of I-5).

Feel free to contact Betsy for specifics in your neighborhood.

April 14, 2009