Kenmore Undressed

Kenmore Real Estate Statistics

I’m in a “statistics” kind of mood tonight. Yuck, you say! Why torture us with the numbers? Well, I do like to provide you with periodic reports of the real estate market in Kenmore. It’s important that you have a general idea of what’s going on out there. So for tonight I’m going to keep it simple. Take a look at the charts below:

The report above breaks out Kenmore real estate into four basic categories: Single family homes, Condominiums, Multi family properties and Vacant land. I chose this report because it isn’t too detailed. Sometimes it’s helpful to get a general idea of a market. Now let’s break things out in a little more detail:

This report breaks out all of the active listings in Kenmore by price, number of units and days-on-market. What’s important here is the average priced homes (between $500K-$650K) have been on the market over 90 days. The summer months are generally a slower time for real estate. As a realtor, I must say that this inventory is overpriced. How much longer the sellers can stand to stay on the market?

Pending sales are those homes which are either going through inspection or are on the way to closing. The important fact in the report above is that only 30 or 10% of the total number of properties in Kenmore are pending. This means that we have many months of inventory on the market.

Finally, here are the sold properties dating back to February 1st. It’s important that we don’t look back further than three months in this market. Basically this report shows a fairly lethargic market in Kenmore. I’m not afraid to say that most sellers are not being realistic about the value of their homes. It’s time for sellers to get real about their pricing strategies.