November Month-End Statistics: Kenmore, WA Home Sales
Kenmore’s home sales moved at a glacial pace in November. Only 12 homes closed between November 1 and November 30. There are 19 pending sales. The current active inventory remains relatively high (171).
Let’s look at the homes that are active listings:
As one can see, the bulk of the inventory is listed from $350,000 - $550,000. Only 42% of the homes are still listed at their original price. Of the remaining 58% on average, the sellers have lowered the price by almost 10%. 38% of the homes are new construction. The overall days-on-market is 158 (days). Let me say here, that these statistics should send a clear message to the sellers: THE MARKET IS EXTREMELY SOFT right now. If you don’t have to sell…..TAKE YOUR HOUSE OFF THE MARKET! Either that or systematically lower your price, get your house de-cluttered. If you feel as if your agent isn’t doing what he/she promised: FIRE HIM/HER! Tough love is fashionable.
Now, let’s take a look at the Pending Sales:
There are currently 17 pending sales in Kenmore. Above, I’ve highlighted the 7homes that are pending at the original list price (that’s 41%). It’s interesting to note that the rest of the pending homes are showing a 10% drop from the original list price (seems like a pattern here). Not also that the days-on-market are 170. With the exception of the 1st home, most of the full-priced listings are selling in far fewer days than their counterparts.
Finally, homes that sold in November:
Only 12 homes sold in Kenmore in November. That’s only 7% of the total listed homes. On average, homes sold for 90% of the original list price. Days on market were fairly reasonable because these sellers were, simply put, serious about selling their houses.
Overall, not a great month for Kenmore home sales. The economic downturn and difficult lending environment have made home sales difficult. Nevertheless, sellers seem to be deluding themselves about the pricing, marketing and representation of their homes.
