October 2009 Moses Lake Home Market News

People always ask me, “How’s the market?”  As promised, here’s the latest statistics just released from the Northwest Multiple Listing Service.

MY THOUGHTS

Homes are still coming on market. Sellers have to be priced slightly under the current market price to get any action as buyers continue to want a deal.

Interest rates are a bargain at 5% for 30 year fixed.

Fall is my favorite time of the year. I love to see the falling leaves, and watch both football and the MLB playoffs. I am a diehard Yankee fan, but please don’t hold that against me. It is a lifelong passion I can’t get over.

Please stop in and say hello the next time you are going by. I would love to see you.

October 2009

	9/30/08	9/30/09	+/-	%
Homes on Market	322	344	+22	+6.8%
In 2006 182 homes were on the market. 2007- 296. There has been a steady rise in inventory. Sellers have to be priced right to get any action.
	YTD 2008	YTD 2009	+/-	%
Closed Sales	338	214	-124	-36.6%
In 2006 homes sold YTD totaled 470; 2007- 398; number of homes sold YTD is now 36% lower than the same time last year.
	YTD 2008	YTD 2009	+/-	%
Avg. Sold Price	$200,341	$190,900	-9,441	-4.7%
Med. Sold Price	$169,998	$170,000	+$2.00	+0.0%
Average and median prices are about the same but buyers are getting more for their money.
	YTD 2008	YTD 2009	+/-	%
Avg. Days On Market	90	123	+33	+36.6%
Average time on market for sold homes increased by 33 days or 36%. Supply is still high and loans are taking longer to close. Patience, persistence and price are key!

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