Puget Sound Real Estate and Community Blog

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This blog is provided by David J Edwards to provide visitors and members with information about books that can foster professional and/or personal development. Renton Real Estate and Community Blog disclaims responsibility for any of the content or opinions expressed on this blog, including, but not limited to content or opinions regarding any products or service mentioned on the blog. Renton Real Estate and Community Blog disclaims liability for any damages or losses, direct or indirect, that may result from use of or reliance on information contained in the blog. This blog may contain links to other Web sites operated by third parties. These links are provided as a convenience to access the information contained therein. Renton Real Estate and Community Blog has not reviewed all of the information on other sites and disclaims any responsibility for the content of any other sites or the products or services that may be offered on or through those sites. Inclusion of a link to another site does not indicate any endorsement or approval of the site or its content. Renton Real Estate and Community Blog reserves the right to edit, remove or deny access to individuals or content that it determines to be unacceptable, including, but not limited to, any abusive, profane, rude, defamatory, or anonymous comments.

About Me

There are many qualities and skills that go into being an excellent real estate professional - integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills and a high-quality professional network, all of which are hallmarks of how I work. That said, in my experience as a Renton and Newcastle real estate professional, I've also found that providing the very best service is essentially about putting my clients first. This means keeping myself accessible, being a good listener as well as a good communicator, and responding quickly to your needs. This "client first" philosophy has always been my approach and it requires me to continually improve my skills and ways of doing business. In addition, I've found that the latest technologies are enabling me to do everything I've always done, only much more quickly and efficiently. They've also helped me to extend the range of services I provide to my clients. How am I different from other real estate agents? I am wholly qualified to competently handle your real estate transaction. I will deliver superior customer service and give you professional advice to walk you through this life-changing event. My real estate experience and personal history make me uniquely competent for this job. I am a full time real estate agent and REALTOR® specializing in Residential Real Estate for sellers like yourself. Being a full time agent allows me to preview homes on a daily basis to stay in tune with local market conditions, it also allows me to continue my ongoing education and be responsive to your needs to ensure deadlines are not missed. Team - When you work with me, you have the benefit of working with my entire team. -Elise Yaplee manages the front desk and ensures I am notified of any calls, faxes and deliveries. Whenever necessary, we can all rely on Elise to act as our intermediary. -Roger Berger is my Associate Broker. Roger reviews all of my transactions to ensure nothing gets missed. He has over 25 years of experience in the Mortgage Lending Industry with Magellan Mortgage. -Gary McNinch is my mentor and a leading agent within my office. Because I am a customer service professional, I go to Gary whenever I am presented with a question I cannot answer. -Pamela Spring is a mortgage associate at Wells Fargo Home Mortgage. She has nine years of experience in the mortgage banking industry and she can help us review the legitimacy of offers with financing contingencies presented by potential buyers. -Sheila Finley is my escrow coordinator. From the simplest to the most complex real estate transactions, Sheila will show you why I continually turn to her for the reliability, responsiveness and security you need to get transactions closed. The Keller Williams Culture It comes down to training. My affiliation with Keller Williams Realty provides you with an agent who has access to the training needed to continually grow into an ever more qualified real estate professional. Keller Williams is a profit sharing company. The benefit to you is that every agent in my office is trying to help me sell your house. Technology According to the National Association of REALTORS, 80% of consumers begin their search for a home online. When you work with me, you will benefit from the efficiency, transparency and reach afforded by my use of the latest in real estate technology. I started my real estate business after spending nine years in the real estate technology industry. I worked with companies including REALTOR.com, iPIX and Fidelity National Financial to name just a few. I apply my first hand experience and familiarity with technology tools into my business to effectively market your home and increase the efficiency of our relationship all the way to the closing table. Communicati on Communication is the backbone of any successful relationship. I make it my top priority to be accessible to you and to manage your expectations concerning times when I won't be available. I maintain one phone number so you always know how to reach me. I can pickup my e-mail on my phone so that every message is reviewed without delay. You will be given your own website so that you can review the tasks I execute on your behalf. Clients for Life Earning your satisfaction is my primary business objective. Everything else follows. My Commitment to You I'm a professional. I know what I know and I know what I don't know and I know the difference between the two. When I know the answer to a question, I'll tell you. When I don't know, I'll go find out. My top Priority is that you always get the right answer. So when you decide that you'd like to buy or sell a home in the Renton, Newcastle or South Bellevue area, please contact me.

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1 | 2 | 3 | 4 | 5 | 6-10 >

Nov

Updated Renton Real Estate, Newcastle Real Estate & South Bellevue Real Estate Market Statistics (As of November 17th, 2008)

Posted by David Edwards under For Buyers, For Sellers, For Realty Professionals, Regional - West, Statistics, Marketing Reports, Renton, Market

These numbers are based on a three month historical analysis that compares this week with 11/03/08.

MLS Area 500 (Newcastle, Bellevue South of I-90 & Issaquah South of I-90)
Single Family Homes
Average Days on Market: 110 Days (Up from 107 last period)
Inventory of Active Listings: 488 (Down from 499 last period)
Inventory of Sold & Pending Listings: 190 (Down from 196 last period)
63 listings are absorbed by demand each month on average. (Down from 65 last period)
13% of active listings are selling each month on average. (No change from 13% last period)
7.7 Months Worth of Supply (No change from 7.7 last period)
Average List Price: $935,614 (Up from $917,461 last period)
Average Sale Price: $660,740 (Up from $643,434 last period)
Median Sale Price: $568,750 (No change from $568,750 last period) (1/2 sell for more & 1/2 sell for less)

Analysis of MLS Area 500 for Single Family Homes: This area favors buyers over sellers based on the fact that there is a 7.7 month supply of homes. This means that if no additional homes were listed, it would take 7.7 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.

Condominiums
Average Days on Market: 92 Days (Up from 90 last period)
Inventory of Active Listings: 136 (Up from 133 Active Listings last period)
Inventory of Sold & Pending Listings: 53 (No change from 53 last period)
18 listings are absorbed by demand each month on average. (No change from 18 last period)
13% of active listings are selling each month on average. (No change from 13% last period)
7.5 Months Worth of Supply (Up from 7.4 last period)
Average List Price: $318,985 (Up from $317,171 last period)
Average Sale Price: $299,880 (Up from $285,725 last period)
Median Sale Price: $291,000 (Up from $259,325 last period) (1/2 sell for more & 1/2 sell for less)

Analysis of MLS Area 500 for Condominiums: This area favors buyers over sellers based on the fact that there is a 7.5 month supply of homes. This means that if no additional homes were listed, it would take 7.5 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.

http://www.nwmls.com/discover/library/maps/areamaps/King/500-East%20Side-South_all.pdf

MLS Area 350 (Northeast Renton / Renton Highlands, East Highlands, Briarwood)
Single Family Homes
Average Days on Market: 114 Days (Up from 111 last period)
Inventory of Active Listings: 385 (Up from 382 last period)
Inventory of Sold & Pending Listings: 183 (Up from 182 last period)
61 listings are absorbed by demand each month on average. (No change from 61 last period)
16% of active listings are selling each month on average. (No change from 16% last period)
6.3 Months Worth of Supply (Up from 6.2 months last period)
Average List Price: $530,289 (Up from $529,916 last period)
Average Sale Price: $437,348 (Up from $436,938 last period)
Median Sale Price: $410,000 (Up from $404,225 last period) (1/2 sell for more & 1/2 sell for less)

Analysis of MLS Area 350 for Single Family Homes: This area is balanced between buyers and sellers based on the fact that there is a 6.3 month supply of homes. This means that if no additional homes were listed, it would take 6.3 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.

Condominiums
Average Days on Market: 122 Days (Up from 115 last period)
Inventory of Active Listings: 66 Active Listings (Down from 71 last period)
Inventory of Sold & Pending Listings: 35 (Down from 37 last period)
12 listings are absorbed by demand each month on average. (No change from 12 last period)
18% of active listings are selling each month on average. (Up from 17% last period)
5.5 Months Worth of Supply (Down from 5.9 months last period)
Average List Price: $247,374 (Up from $246,186 last period)
Average Sale Price: $220,646 (Down from $240,751 last period)
Median Sale Price: $214,950 (Down from $219,450 last period) (1/2 sell for more & 1/2 sell for less)

Analysis of MLS Area 350 for Condominiums: This area is balanced between buyers and sellers based on the fact that there is a 5.5 month supply of homes. This means that if no additional homes were listed, it would take 5.5 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.

http://www.nwmls.com/discover/library/maps/areamaps/King/350-Renton%20Highlands.pdf

MLS Area 340 (Southeast Renton / Cascade, Tiffany Park, Talbot Hill, Benson Hill, Fairwood)
Single Family Homes
Average Days on Market: 123 Days (Up from 120 last period)
Inventory of Active Listings: 336 (Down from 343 last period)
Inventory of Sold & Pending Listings: 158 (Down from 161 last period)
53 listings are absorbed by demand each month on average. (Down from 54 last period)
16% of active listings are selling each month on average. (No change from 16% last period)
6.3 Months Worth of Supply (No change from 6.3 months worth of supply last period)
Average List Price: $415,579 (Down from $420,879 last period)
Average Sale Price: $351,449 (Down from $360,031 last period)
Median Sale Price: $331,500 (Down from $335,000 last period) (1/2 sell for more & 1/2 sell for less)

Analysis of MLS Area 340 for Single Family Homes: This area is balanced between buyers and sellers based on the fact that there is a 6.3 month supply of homes. This means that if no additional homes were listed, it would take 6.3 months to absorb the current inventory. A market is considered balanced when the supply of homes is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.

Condominiums
Average Days on Market: 96 Days (Up from 95 last period)
Inventory of Active Listings: 103 (Down from 106 active listings last period)
Inventory of Sold & Pending Listings: 51 (Down from 52 last period)
17 listings are absorbed by demand each month on average. (Down from 19 last period)
17% of active listings are selling each month on average. (Down from 18% last period)
6.0 Months Worth of Supply (Up from 5.5 last period)
Average List Price: $215,095 (Down from $218,092 last period)
Average Sale Price: $213,890 (Up from $212,151 last period)
Median Sale Price: $205,000 (Up from $204,000 last period) (1/2 sell for more & 1/2 sell for less)

Analysis of MLS Area 340 for Condominiums: This area is balanced between buyers and sellers based on the fact that there is a 6.0 month supply of condos. This means that if no additional condos were listed, it would take 6.0 months to absorb the current inventory. A market is considered balanced when the supply of condos is close to a six month supply. A supply of five months or less would favor sellers. A supply of seven months or more would favor buyers.

http://www.nwmls.com/discover/library/maps/areamaps/King/340-Renton-Benson%20Hill.pdf

If you are interested in statistical information for an MLS area not covered here, please respond to this post to let me know what neighborhood you live in and I will follow up with the statistics specific to your area of interest. You are also welcome to visit my website at www.davidjedwards.com where you can access my Market Snapshot research tool found on the left side of the homepage.

This information is deemed reliable but it is not guaranteed to be 100% accurate. I generated these statistics using the Northwest Multiple Listing Service. These statistics were not compiled or published by the Northwest Multiple Listing Service. The analysis of each MLS Area is based on the market statistics but is the personal opinion of the author.

David Edwards
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/renton-info-blog.asp

David J Edwards is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers.