Maple Valley Real Estate Market Stats January 2016
January 2016 was a strong month for real estate sales in Maple Valley, WA.
33 homes Sold (closed) in the month of January. That is up from 27 in 2015 and down from 51 in 2014.
52 homes went Pending (or received a purchase contract or under contract). That’s down 14% from last years average. And it’s not down because the market is hesitant or unstable. It’s down because there are not enough homes for sale. The supply and demand of houses is out of whack. Most home owners do not realize that they probably have equity at this point and can actually sell their home for a profit! We are at 2007 levels for home prices.
39 Homes for sale was our Active Inventory. That’s the lowest number of Active Inventory since I began tracking Maple Valley real estate stats in 2006.
Average sales price was $415,121- that’s up 20% from January 2015’s average sales price of $344,733. And up 14% from January 2014’s average sales price of $350,025.
The majority of the houses that sold were from the 1960-2000. There were three houses built in 2015/2016. The lowest sales price was $217,500 and the highest sales price was $600,000.
Average marketing time (days on the market) was 23. Down from 55 in 2015 and down from 56 in 2014. It’s a very fast market. I predict February’s numbers to be similar.
Average price per square foot was $187. That’s up from $159 in 2015 and $155 from 2014.
List price to sales price ratio was 99.9% which means sellers were getting what they were asking without a lot of negotiation.
There was less than one month’s supply of houses for sale making it an extreme Seller’s Market. (Which means if no new houses were listed for sale, based on the current demand, there will be no homes left to purchase in under one month. Markets are defined by- If there are zero to four months supply of homes, it is a seller’s market. If there are four to six months supply of homes, it is a balanced market. If there are more than six months supply of homes, it is a buyer’s market.}
So to recap-
Even though there are not a lot of houses for sale, demand is still very high for Maple Valley houses. Houses are selling quickly and at list price.
If you have any questions about real estate in general or my Maple Valley Real Estate Market Stats 2015 Year in Review, please do not hesitate to contact me.
Or, if you would like to know what your Maple Valley house is worth in today’s market, contact me. I will create a custom comparative market analysis for your house detailing what homes are currently listed for sale, what homes have gone under contract (pending), and what houses have sold. My report also includes all the photos of each home so that you can really compare apples to apples.
You can reach me by phone, text, email, or Facebook- whichever is easier for you. Debi Braulik (206) 949-4785 firstname.lastname@example.org.