Market Summary Report for 1st Quarter 2012.
Our local real estate market summary for Colville, Stevens County, Ferry County and Pend Oreille County indicates we are off to a better start than last year. For the entire area, which includes some sales in Spokane County, the total number of sales increased 25% compared to the 1st quarter of 2011.
The average list price is down 6%.
The average sale price is down 20%.
Its worth noting that of the 64 reported sales, 25 or approximately 40%, were reported as lender owned properties. In the 1st quarter of 2011 there were 15 sales, approximately 30% of 1st quarter 2011 sales, reported as lender owned. Since it’s not required by the local association to note a lender owned property we expect this number is slightly higher for both years.
- 234711.07,228006.99,233776.86,230878.24,230316.46,228891.86,222521.87,220652.19,219232.77,219252.96,231807.35,233801.68
- 187101.92,148810.81,140765.00,179740.32,175039.10,160711.25,163917.97,174698.62,104976.09,148063.16,129438.64,187428.35
Information is deemed to be reliable, but is not guaranteed. © 2012
Active inventory is down about 4% and new listing entering the market are down about 12% compared to 1st quarter of 2011.
- 588,625,645,674,649,596,537,494,445,450,460,511
- 114,97,93,74,48,60,31,38,65,44,82,108
Information is deemed to be reliable, but is not guaranteed. © 2012
Stevens County is also showing improvement over the 1st quarter of 2011 with a 41% increase in sold properties. That translates to an additional 13 sales compared to the 1st quarter of 2011.
The average list price is down about 5%.
The average sales price is down 10%.
Of the 44 reported sales in 1st quarter 2012, 13 homes, or 30% were reported as lender owned. In 1st quarter 2011 of 31 reported sales only 6, or 20% were reported as lender owned.
- 424,454,467,486,466,425,383,355,321,325,326,359
- 78,72,72,55,32,40,19,23,51,30,57,72
Information is deemed to be reliable, but is not guaranteed. © 2012
Please note our graphs do not show the yearly comparison but are provided to show the current price and inventory trend over a 12 month period.
Even though there has been an increase in sales for the 1st quarter of 2012 the total dollar volume of sales is down slightly from $8,112,600 in 2011 to $8,075,300 in 2012.
The 1st quarter of 2012 also saw a shift in the price ranges where listing are selling. Most activeity in 2012 has been in price ranges below $140,000. The chart below provides a visual of which price ranges saw sales in 2012 compared to 2011.
Comparison of listing price range where sales occurred between Quarter 1 of 2012 & 2011
Although we showed an increase in sales for the 1st quarter they were concentrated in the lower end of the market. We should see an increase in sales in the mid-range of the market through the second and third quarters.
Please leave a comment or question, or if you prefer contact me for a more detailed summary of current market conditions.
Carbon Monoxide Detectors, Law Changes on April 1, 2012
On April 1, 2012, a new law goes into effect regarding Carbon Monoxide Monitors. Annie Fitzsimmons, the Washington REALTOR® Legal Hotline Attorney explains the duties of sellers and Brokers in this four minute video that is easy to understand.