22 open houses being held on Mercer Island November 8, 2009

Don’t let the weather deter you– twenty two homes will be open tomorrow and it’s a great weekend to view homes. This week, Congress approved, and President Obama signed into law, an economic stimulus package. Included in the legislation is an extension of the $8,000 new home buyer credit and a new $6,500 credit for existing home owners with 5+ years in their current residence who purchase a new primary residence.

The list of island open houses is ready for pick up at Windermere Mercer Island. If you are interested in more detailed information about this weekend’s open house offerings, please stop by and pick up your own list and map. Or you can give us a call at (206) 232-0446. The Windermere/Mercer Island office is located at 2737 77th Ave. S.E. Mercer Island, WA 98040. We are open 10 am to 4pm on the weekends.

Free coffee is always available. It’s a good weekend for a nice, warm cup of joe. We look forward to seeing you this weekend

Another Hot Month of Pending Home Sales!!

Market Statistical Summary for October 2009

 

King County

King County posted yet another strong month with 2222 Pending Sales in October—up 119.6% over October 2008 while the $/SqFt remained stable. The List to Sales Price Ratio remained at 96%. The Average Sales Price was $452,000. Median Prices were down 4.6% from October 2008 to $375,000—narrowing the gap by another 2% from -6.6% in September. There are currently 5.7 Months of Inventory on the market. The Absorption Rate was 24%—an improvement of 172.7% from October 2008!

Eastside

Pending sales on the Eastside were up 150.6% from October 2008!! The List to Sales Price Ratio increased another percent to 96% for the month. The Average Sales Price closed out the month at $583,000, down 11.9% from October 2008. The Median Sales Price, which is down 11.7% for the year, was $477,000. There are 6.6 Months of Inventory on the market. The Absorption Rate of 19.9% was at its highest in more than two years and 215.9% above that of October 2008.

Mercer Island

Mercer Island sales continue to increase and are now at 140% above the prior year in Pending Sales activity. The List to Sales Price Ratio was 91% in October indicating significant movement off of list price coupled with a handful of distressed property sales. Average Sales Prices were down 31.1% over the prior year overall, to $1,089,000—impacted most by continued stronger sales in the lower Island price brackets. This is clearly evidenced when one looks at the Median Sales Prices, which were down only 4.8% from October 2008 to $960,000. There are 8.5 Months of Inventory on the market. The Absorption Rate of 14.2% was up 173.1% over the prior year and continues to improve as pending sales increase and standing inventory declines.

Seattle Metro

Pending Sales were up 101.6% over October 2008 to 752 units. The List to Sales Price Ratio remained a very solid 97%. The Average Sales Price was $482,000, down 3.8% from the prior year. The Median Sales Price was $400,000, down 2.4% from October 2008. The Months of Inventory index was showed only 4.5 months on inventory currently on the market. The Seattle Metro market had the strongest Absorption Rate at 27.8%—up 143.9% from that of October 2008.

 

 

Definitions

Active Listings: All homes currently for sale but not yet sold.

Pending Sales: Homes under contract but not yet closed for that month.

Sold Listings: Homes sales closed in a given month.

$/SqFt: The price per square foot determined by dividing the sales price by the square footage of living space.

Average Sales Price: The average price of all homes sold that month.

Median Sales Price: The price that represents the mid-point of all homes sold that month where 50% of sales prices are above and 50% of sales prices are below.

List to Sale Price Ratio: Represents the comparison of sold price and list price of the homes sold (sold listings) as a percentage.

Months of Inventory: Represents the number of months of inventory on the market based upon the number of homes for sale (active listings) and the number of homes pended that month. For instance, if there are 1,000 active listings and 100 of them sold in a given month, it would take 10 months to sell the current inventory of homes for sale.

Rate of Absorption: Represents the percentage of the current active listings that are being absorbed (or pended) each month. For instance, if there are 1,000 active listings and 100 of them sold in a given month, the rate of absorption would be 10%. 10% of the market is being sold in that given month.

A Happy Halloween Includes Open Houses

Happy Halloween!

Include a few open houses in your early afternoon trick or treat plans. 4 of the 20 island open houses this weekend are being held Halloween afternoon. All 20 are also being held open tomorrow, November 1st.

The open house list is ready for pick up. If you are interested in more detailed information about this weekend’s open house offerings, please stop by and pick up your own list and map. Or you can give us a call at (206) 232-0446. The Windermere/Mercer Island office is located at 2737 77th Ave. S.E. Mercer Island, WA 98040. We are open 10 am to 4pm on the weekends.

Free coffee is always available. It’s a good weekend for a nice, warm cup of joe. We look forward to seeing you this weekend

It’s a Tour weekend here on Mercer Island. Tour Sheets are ready for pick up.

October’s Tour of Homes is petite, but the homes on it are terrific. The sheets, with descriptions of each home and a map of the tour on the back, are ready for pick up at Windermere Mercer Island.

If you are interested in more detailed information about this month’s tour of homes, please stop by and pick up a tour sheet. Or you can give us a call at (206) 232-0446. The Windermere/Mercer Island office is located at 2737 77th Ave. S.E. Mercer Island, WA 98040. We are open 10 am to 4pm on the weekends.

Free coffee is always available. It’s a good weekend for a nice, warm cup of joe. We look forward to seeing you this weekend!

Put on your wellies and rain gear– it’s time to check out island open houses!

It’s time to haul out the wellies and rain coats. The rainy season has arrived. Open houses are fun, even when it’s drizzly out.

Currently, there are 24 open houses scheduled for October 18th on Mercer Island. The prices range from $530,000 to $4,685,000. Two of them are land opens, which are rare on the island. Eleven of the open houses are below the million dollar mark.

If you are interested in more detailed information about this weekend’s open house offerings, please stop by and pick up your own list and map. Or you can give us a call at (206) 232-0446. The Windermere/Mercer Island office is located at 2737 77th Ave. S.E. Mercer Island, WA 98040. We are open 10 am to 4pm on the weekends.

Free coffee is always available. It’s a good weekend for a nice, warm cup of joe. We look forward to seeing you this weekend!

September 2009 Awesome for Mercer Island!

Market Statistical Summary for September 2009

 

King County

King County posted its best month since June 2007 with 2245 Pending Sales in September. Pending Sales were up 66.1% over September 2008 while the $/SqFt remained stable. The List to Sales Price Ratio remained at 96%. Median Prices were actually up 2.4% over the prior month but still down 6.6% from September 2008—although the gap is narrowing. The Months of Inventory index was down 52.2% over the prior year to 4.3 months. The Average Sales Price remained stable at $458,000—the same as the prior month but down 5.8% from September 2008. The Absorption Rate was 23.1%—up a whopping 108.1% from 11.1% in September 2008!

Eastside

The Eastside showed even greater strength than King County with Pending Sales up 79.1% from September of 2008—setting a new record in our changing economic times and reaching the highest sales volume since July 2007. No change in the $/SqFt indicates a glimpse market stability. The List to Sales Price Ratio continues to improve—leveling out at 95% for the month. The Median Sales Price, which is down 5.3% for the year, was up 0.2% for the month. The Months of Inventory index was down 53.5% to 5.3 months. Average Sales Prices have remained stable for the past three months, closing out the month at $616,000. The Absorption Rate of 19% was at its highest in more than two years and a full 115.9% above that of September 2008.

Mercer Island

Mercer Island had been truly an island to its own as the more moderate price ranges all around it began picking up steam. All that began to change in September when Mercer Island posted a 116.7% gain in Pending Sales activity. Prices are still somewhat soft, however, with a List to Sales Price Ratio of only 93%. Median Sales Prices were up 12.9% for the month to $830,000, but down 12.7% from September 2008. The Months of Inventory index was down 56% to 7.3 months. Average Sales Prices were up 0.7% for the month but down 25.8% over the prior year—impacted most by continued stronger sales in the lower Island price brackets. The Absorption Rate of 13.8% was up 130% over the prior year and 22.1% over the prior month.

Seattle Metro

Pending Sales were up a respectable 61.1% over September 2008 and 23.5% over the prior month to 794 units. $/SqFt was up slightly and the List to Sales Price Ratio remained a very solid 97%. The Median Sales Price was the same as in August 2009 but down 5.7% from the prior year. The Months of Inventory index was the lowest in the Puget Sound region with only 3.6 months on inventory currently on the market. Average Sales Prices were down 4.3% from the prior year to $473,000. Not surprisingly, the Seattle Metro market also had the strongest Absorption Rate at 28.1%—up 96.5% from that of September 2008.

Definitions

Active Listings: All homes currently for sale but not yet sold.

Pending Sales: Homes under contract but not yet closed for that month.

Sold Listings: Homes sales closed in a given month.

$/SqFt: The price per square foot determined by dividing the sales price by the square footage of living space.

Average Sales Price: The average price of all homes sold that month.

Median Sales Price: The price that represents the mid-point of all homes sold that month where 50% of sales prices are above and 50% of sales prices are below.

List to Sale Price Ratio: Represents the comparison of sold price and list price of the homes sold (sold listings) as a percentage.

Months of Inventory: Represents the number of months of inventory on the market based upon the number of homes for sale (active listings) and the number of homes pended that month. For instance, if there are 1,000 active listings and 100 of them sold in a given month, it would take 10 months to sell the current inventory of homes for sale.

Rate of Absorption: Represents the percentage of the current active listings that are being absorbed (or pended) each month. For instance, if there are 1,000 active listings and 100 of them sold in a given month, the rate of absorption would be 10%. 10% of the market is being sold in that given month.

Remember, Windermere and Zillow have formed a partnership

Reminder: Windermere and Zillow have partnered up to feed Windermere listings to Zillow.

How does this partnership benefit you? If your home is listed with a Windermere agent, it means your listing, which was already showing up on Zillow, now displays with the list price, a home description, multiple photos and your agent’s contact information. If you are looking to buy, you have more detailed information available to you as you search Zillow.

This partnership also means detailed listing information is at your fingertips if you are an iphone or ipod touch user. Have you downloaded the immensely popular Zillow App?If not, download it for free and join the 750,000+ people already searching Zillow on the go.

Open House List for Oct. 10 and 11 ready for pick up. Come on by!

The list and map of this weekend’s Mercer Island open houses is ready. Three of the homes on the list are open today, so come on by to get your own copy.

This weekend’s open houses feature privacy lots, incredible views, a few waterfront properties, and many newly remodeled homes. The prices range from $360,000 to $4,685,000.

Windermere/ Mercer Island agents are also holding open houses off the island. Today and tomorrow, a listing in Bellevue/Newport Hils is open. Tomorrow’s opens also include the Seattle area, Newcastle and Issaquah.

If you are interested in more detailed information about this weekend’s open house offerings, please give us a call at (206) 232-0446, or stop by the Windermere/Mercer Island office, located at 2737 77th Ave. S.E. Mercer Island, WA 98040. We are open 10 am to 4pm on the weekends. As an added bonus, free coffe is always available. We look forward to seeing you this weekend!

Another blockbuster weekend for island open houses, Oct. 3 and 4

Island open houses have been plentiful for the past several weekends. This weekend, October 3rd and 4th, doesn’t disappoint. Twenty-eight open houses are scheduled for October 4th. Two island homes are also open today, October 3rd, starting at 1 pm.

Here’s a few more stats: 15 of the open houses are for homes listed below $1,000,000; 9 are for homes with list prices between $1,388,000 and
$1, 835,000; and 4 are priced between $2,187,000 to $2,999,950. There’s quite a bit of variety in what the homes offer to potential buyers, from water views, to exceptional privacy, plus many beautiful touches that make the home special.

In addition to the island open houses, Windermere/ Mercer Island agents are holding some open houses off the island. There’s an open house today in Seattle’s lovely Judkins neighborhood from 1pm to 3pm. Tomorrow from 1-4pm, there are open houses in the the Renton Highlands, Bellevue and Newport Hills.

If you are interested in more detailed information about this weekend’s open house offerings, please give us a call at (206) 232-0446, or stop by the Windermere/Mercer Island office, located at 2737 77th Ave. S.E. Mercer Island, WA 98040. We are open 10 am to 4pm on the weekends. As an added bonus, free coffe is always available. We look forward to seeing you this weekend!

It’s a busy open house weekend for Windermere/Mercer Island agents, September 26th and 27th

Ten agents in the office are holding open houses this weekend!

Eight of the opens are located here on Mercer Island and are part of the September Tour of Homes, which occurs on Sunday the 27th. We will have Tour Sheets available for pick up on Sunday morning, by 10:30 am. The Tour Sheet features information about each house on the tour, along with a map of the island showing the location of each house.

Agents from the office will also be holding open houses in Seattle’s Judkins neighborhood (1pm to 3pm on Saturday, September 26th) and the Renton Highlands (1pm to 4 pm on Sunday, September 27th).

If you are interested in more detailed information about this weekend’s open house offerings, please give us a call at (206) 232-0446, or stop by the Windermere/Mercer Island office, located at 2737 77th Ave. S.E. Mercer Island, WA 98040. We are open 10 am to 4pm on the weekends. As an added bonus, we have free coffee available. We look forward to seeing you this weekend!