Kenmore Undressed

Which Real Estate Company Has the Largest Market Share Locally?

Now that we’ve arrived at the middle of 2009, it’s time to take a quick look at which real estate companies control the market share. People are always asking me which brokerage is dominant in the area so, in this post I’m going to provide graphs that illustrate market share from the entire multiple listing service here in 19 Western Washington counties. I’m also going to focus in on Kenmore, WA since this is where I live and where I focus my real estate business.

Overall Market Share

Most residents of this area are very familiar with some of the big players in these graphs. As is fairly obvious, Windermere remains dominant as a single brokerage, even in this tough economy; however, take a careful look at the “All Others category.” You’ll note that the percentage of market share is actually much higher among smaller players. I have long suspected that the economics of our industry would force many real estate professionals to leave the larger brokerages in favor of lower cost offices.

Now lets take a look at the last 2 years:

All the brokerages have suffered at least a 30% drop in sales from last year. And finally, ponder the prices involved in these sales:

We are definitely seeing lower average sales prices across the board. These numbers are quite interesting. Indeed, it’s fairly easy to see what’s happened in the market place: buyers are taking advantage of lower prices, but sales are hardly improving. There’s still too much uncertainty out there for a significant market improvement.

Market Share in Kenmore

There are really no surprises here in Kenmore regarding market share; however, prices seem to be a bit higher than the average:

In spite of Kenmore’s very slow market this year, it’s encouraging to know that our prices haven’t fallen off the charts. Now that we’re heading into the summer months, it will be interesting to see what happens with the market.

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