What is going on in our current market? Some statistics give an inside into activity in the King County area.

Residential sales volume for July 2007 decreased 7% from June 2006

All Sales (vs. Year-to-date 2006)
• Residential sales volume: up 2% to 12.3 billion
• Residential transactions: off 8% to 24,613
• Plexes (2-5 units) sales: off 5% to 296 million
• Land sales: up 8% to 689 million
• Commercial volume: up 82% to 6 billion
• Average residence: $499,578, up 11%

Existing home transactions sold decreased 10% in July 2007 from June 2007

Existing Home Sales (vs. Year-to-date 2006)
• Units sold: off 16%; volume off 5% to 7.4 billion
• 12,146 units sold this year vs. 15,684 last year
• Half of homes (median) sold for less than $450,050, up 13%
• Average $/SF for homes sold at $300.95 (all sales), up 10%
• Second best absorption rate: $300,001-$350,000, with 246.1 per month

Condominium unit sales off 115 in July 2007 from June 2006
Condominiums including all attached (vs. Year-to-date 2006)

Condominium Sales
• Average sales price $360,332, up 19%
• Median sales price: $316,450, up 19%
• 35% (2,967 units) of sales are new construction
• 8,465 sold vs. 7398 last year, up 14%; volume up 36% to $3 billion
• Average existing $/SF, up 9% to $310.45; new$333.42, up 2%
• Range with best sales, existing: $300,001-$350,000 with 109.9 per month
• Range with best sales, new $350,001-$400,000, with 69.3 monthly

*Information provided by Rainier Title & Real Estats