I was doing some year end stat’s using the data from the Northwest Multiple Listing and wanted to share my results with you.

 

I compared how many homes sold last year compared to this year and what percentage of these closed sales were “distressed� (short sale/bank owned).

 

From January 1, 2010 to December 8, 2010 in Snohomish County there were 6,518 sold residential home with 34% being “distressed�.

 

From January 1, 2011 to December 8, 2011 in Snohomish County we have sold 6,930 residential homes with 46% being “distressed�.

 

So, in 2011 our sales have increased, the percentage of distressed home sales have increased BUT our inventory is down (around 25%) along with home values (around 10%).

 

My conclusion- with interest rates being as low as they are and home values being around the 2002/2003 prices the affordability of homes today are at an all time high. I see many first time homebuyers taking advantage of today’s market along with investors. My prediction is that the market will continue along the same lines thru Spring and Summer.