Mom, do I have to eat my statistics?
In this post we are going to cover briefly some big numbers related to King County and specific numbers for Kenmore. First, let’s take a look at the following charts:
KING COUNTY ABSORPTION RATE GRAPHS
The chart above shows some stunning numbers. Because it illustrates the statistics since 2003, we can see how the market has changed over time. Where the lines pinch together this means that the “absorption rate” (the percentage of homes that are being absorbed/turned-over every month) is high. In the Spring of 2005 almost 70% of the available homes were being sold every month. This Spring we see a very different picture:
Last month 14.7% of the active listings turned-over which is almost 1% less than April. Usually this time of year is a busy time for sales. Unfortunately, we are experiencing a very slow market.
In Kenmore, we continue to have a large inventory of single family homes and condos:
The sold statistics reflect the last 3 months of sales. 44 sales don’t exactly represent a rip-roaring market. I am pleased to see that the days-on-market haven’t grown too much.
