Kent and Auburn Real Estate Statistics
Auburn and Kent Real Estate
Residential statstics for Auburn and Kent in October show the following:
Active Listings – 1008 in 2008 1234 in 2007
Pending Sales – 160 in 2008 203 in 2007
Sales Closed – 133 in 2008 154 in 2007
Houses and condominiums are selling and being purchased in our market, just not to the same extent as the past few years.
Prices are down about 18% over the past two years due to the influence of forclosures and short sales. Short sales happen when the price that a home sells for is less than the amount owed and the lender absorbs the difference.
The existence of properties that are for sale that are eligible for a short sale provide an opportunity for buyers to purchase at unusual bargain prices. This condition is temporary and can change rapidly as we see in the Southwest states as sales are in an uptrend with the bargains disappearing.
For additional information, email me at duncanclark@remax.net.
