Suquamish & Indianola Real Estate Report January 2014

 

There were 5 homes sold in Indianola & Suquamish during January 2014. The average and median selling price are the lowest we have seen in this 19 month real estate data. Yet, this area tends to be highly variable in home sales, as there are a large variety of property types & values and January is typically a seasonal low point.

 

The average selling price for January 2014 was $142,424 with an average median price of $161,520. The last time prices were in this range was in December 2010. While seasonal lows are expected, these declines were beyond expectations, but we believe them to be anomalies and will very likely show a big improvement next month and beyond.

 

On a good note, the homes sold during this month had a fairly low days on the market (DOM) of 73. The past 6 months we have seen ranges of 31 to 162. Distressed properties, while low at only 2,of the 5 homes sold, still accounted for 40% of homes sold. During the same period a year ago, distressed properties accounted for 71% of sales during January 2013. Thus, despite the low sales numbers, we do see a drastic decline in distressed property sales!

 

Here are the rest of the stats for this month:

 

Average Original $	$167,450
Average Listing $	$149,004
Average Sale $	$142,424
Average Median $	$185,900
$/sq. ft.	$131
# Homes Sold	5
# Distressed	2
% Distressed	40%
# Short Sale	1
# REO	1
CDOM	97
DOM	73

Check back on our blog often to get the most up-to-date information on the area!