Real Estate Statistics: September is Ending Soon
It’s always sobering to take a look at things going on in your own neighborhood, especially when so much attention has been focused on the “big picture” market challenges. Let’s take a moment observe what’s going on here in Kenmore:
There are a lot of active listings in Kenmore today. The majority of these homes are selling at the $450,000 - $600,000 price point. Of the 214 active listings, over 70% have reduced the list price. The average days-on-market don’t look terribly bad; however, since the beginning of September there have only been 5 closed sales. Some good news is that there are 26 pending sales; however, most of these homes have only gone pending after well over 5 months on the market. Let’s hope some of them close at the end of this month.
The charts below are sobering:
I’ve expanded the report below so you can see the details.
The numbers speak for themselves. Almost 36% of the homes for sale in Kenmore are new construction. The average days-on-market are running close to 200. As I mentioned above, very few of the pending sales right now received offers quickly. It’s taking a long time to sell a house in Kenmore.
