January 2013 Home Sales & Trends Indianola & Suquamish
Indianola & Suquamish experienced an upswing in home sales from December with 7 homes sold in January. Though this number may not appear significant, an increase in homes sold during the middle of the slow season is just an indicator of what we expect will be a very strong Spring Market! Additionally, the average selling price and median selling price also improved from the previous month. If you’ve been waiting to sell your home, now is the time! Talk to us to receive a current market value for your home.
The average selling price of homes sold in Indianola & Suquamish during the month of January was $305,714, with a median selling price of $238,500. This is more than a $15,000 increase in the average and a nearly a $60,000 increase in the median from the previous month (December 2012)! The large increase in the median suggests the type of homes sold generally had higher values, suggesting higher-end homes are currently selling in Indianola & Suquamish.
Another interesting fact relates to the number of distressed properties Sold (Short Sales & Bank REO’s). During January 2013, 5 of the 7 homes were distressed with all of these being Bank REO’s. This is an extremely high percentage of the total sales (71% of homes sold were distressed). and is the highest percent of distressed properties in this area we’ve ever seen, yet the strong average & median selling prices indicates that even the banks recognize the improving market and are pricing their distressed inventory closer to market prices and not dramatically under pricing. The housing recovery is still in the early stages and with historically low interest rates Now is a great time to buy and if you are a Seller, prices are increasing and the time on market is decreasing.
If you are planning to sell your home this Spring, we believe it is a good idea to get ahead of the curve and not wait for the traditional Spring market to list your home, but instead, do it Now. Currently the market is strong and there is little competing inventory, so Buyers don’t have as many choices and with less comparable homes on the market, prices are strong right now. Give us a call, we’d love to market your home.
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By Briana Wilson
Reviewed by Brian Wilson, Broker
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370
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