PhinneyWood Housing Market Snapshot
FEBRUARY 2021 REPORT
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The January report for our PhinneyWood real estate market can seem downright confusing: market activity is way up, time on market is way down, yet prices of single family homes (SFH) are down?!
Remember that the January report is really a reflection of the low
market activity in December. This low activity is driven primarily by
the low inventory of home for sale. What’s more, a good amount of that already low inventory is made up of home that are less desirable. This less desirable homes will take longer to sell and end up at a lower price, compared with the local averages.
​
But fear not! As in previous years, January 2021 saw a large number of new buyers hit the market in search of that perfect home. And as in previous years, that large group of buyers had to fight over a very small number of homes for sale, which ended in fast activity and fierce bidding wars that pushed prices up, up, up! You will probably see all this reflected in next months report.
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If you’d like a no-obligation consultation on buying or selling a home – or successfully managing both transactions at the same time in this kind of market – give me a call directly at 206-779-9808.
Median Home Price
Single Family Homes
$635,000
PRICE DECREASED
-15.3%
Condos
$465,000
PRICE INCREASED
40.1%
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JANUARY 2021 CLOSED SALES
SOLD
Number of Condos and Single Family Homes Sold
-57.1%
3
56.3%
25
21.7%
28
CONDO
SFH
TOTAL
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JANUARY 2021 CLOSED SALES
Total Dollar Value of Closed Sales
Single Family Homes
$20.3 million
SALES INCREASED
54.5%
Condos
$1.4 million
SALES DECREASED
-42%
Total
$21.7 million
SALES INCREASED
39.3%
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JANUARY 2021 CLOSED SALES
Median Days on Market
17 days
TIME DECREASED
26.1%
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JANUARY 2021 CLOSED SALES
Months of Inventory
4 months
At the current rate of sales it would take
3 months
0.8 months
to sell every home that
is active in our area
2 months
1 month
2017
0.5
2018
0.4
2019
1.1
2020
0.6
2016
0.5
2021
0.8
0 months
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JANUARY 2021 AVAILABLE INVENTORY
Months of Inventory
Last month there were
37
active listings in the database
DECREASE OF
54.2%
from JANUARY 2020
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JANUARY 2021 AVAILABLE INVENTORY
New Listings
Last month there were
55
new listings added to the database
DECREASE OF
44.7%
from JANUARY 2020
2020
38
2021
55
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JANUARY 2021 NEW LISTINGS
Pending Sales for Single Family
Homes & Condos Sold
There were
39
total homes and condos under
contract in JANUARY 2021
INCREASE OF
28.6%
from JANUARY 2020
CONDOS
SFH
TOTAL
9
30
39
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JANUARY 2021 PENDING SALES
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