Indianola & Suquamish Real Estate Trends September-November 2013 Quarterly Report

Indianola & Suquamish have followed the expected seasonal trend of decreased home sales in November, and also reached a low average selling price for the year. But take a look at that average selling price in September! When we move to October, the number homes sold spiked to 17 for the month, which is a high for more than 18 months in this area. The relatively low number of monthly home sales is a significant factor in large monthly price swings, but this certainly is a huge swing.

 

 

The average original price for homes placed on the market during September was $553,269, with an average selling price of $499,814. This is over a 50% increase in the price of homes sold compared to October Sales and over 34% above the level from September one year ago.

 

October was an outstanding month in terms of the number of homes sold in the Indianola & Suquamish area. Not only do we see the most homes sold in more than 18 months, but there were 55% more Sold compared with October 2012; however, average sold prices were 48% lower than during October one year ago. So, more homes were sold at lower prices compared with October a year ago.

 

The average days homes were listed on the market before the sale finalized during September was 113, which is much different than the average DOM of 31 days we saw in August, but not unexpected for higher priced home sales and the typical seasonal slow down as we enter the winter season. October’s average DOM dropped to 79, while time on market again extended during November to an average of 145 DOM.

 

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	September 2013	October 2013	November 2013
Avg. Original $	$553,269	$277,453	$244,500
Avg. Listing $	$498,254	$267,453	$214,500
Avg. Selling $	$499,814	$251,194	$214,500
Median Selling $	$499,900	$200,000	$214,500
$/sq ft	$164	$137	$145
TTL # sold	7	17	4
DOM	113	79	145
CDOM	113	79	145
TTL # Distressed/%	2 / 29%	4 / 24%	1 / 25%
SS	1	3	1
REO	1	1	0